The euro hit its lowest level against the US dollar in nearly 21 years, falling below $1.02 for the first time since 2002.

The euro hit $1.03 two days ago, under the influence of energy-related tensions in Europe and the strength of the US currency, which is benefiting from tight monetary policy by the Federal Reserve, and the dollar rose at around 08:50 GMT. , by 1.03 percent, fixing 1.0315 dollars against the euro, which is the lowest level since the end of 2002.

A number of currencies came under pressure two days ago, with the Japanese yen again close to a 24-year low against the dollar.

“The risks of Europe slipping into recession are rising after another 17% jump in natural gas prices in both Europe and the UK,” Derek Halpenny, head of global market research at MUFG, said at the time.

“It will continue to be very difficult for the euro to rise in any meaningful way as the energy picture worsens and risks to economic growth increase significantly,” he said.