One Euro is worth $1.0051. The European currency was last weaker at the end of 2002.
This is probably due to fears that the Nord Stream 1 gas pipeline will not resume operations after maintenance. The gas shortage will harm the European economy.
As we stated earlier, the repair of the gas pipeline began on July 11 and will last for about 10 days.
On July 12, Russia reduced gas supplies to Austria and Italy.
Instead, the US dollar is strengthening as markets expect the Federal Reserve to raise interest rates in order to reduce inflation.
On July 7, a member of the Federal Reserve Board of Governors Christopher Waller said that he supports further rate increases. He was supported by James Bullard, a member of the Federal Open Market Committee, which is part of the Federal Reserve System.
On July 7, Board of Governors member Christopher Waller said he supports further rate hikes. He was supported by James Bullard, a member of the Federal Open Market Committee, which is part of the Federal Reserve.
A decision on raising rates may be made at the end of July.
On July 12, at PrivatBank, the dollar strengthened against the hryvnia by 1 hryvnia and 40 kopecks.