One cent separates the Euro from being equal to the Dollar.
For the first time in two decades, the euro has lost its value and only one cent separates it from becoming “one to one” with the dollar.
And this is coming as a result of the fear that the energy crisis in the European Union could put Europe into recession.
The euro traded at $1.007 on the US market today, which is nearly 15 percent less than it was earlier this year.
This fall in the value of the euro is coming at a time when Russia has closed its gas pipelines in Nord Stream 1, after being hit by Western sanctions as a result of the war in Ukraine.
On the other hand, the dollar seems to be recovering and now investments in the United States have increased, and according to Federal Reserve officials this trend is expected to continue in the coming months.
The created energy crisis is causing the economic slowdown, where experts are skeptical if the European Central Bank will be able to implement policies to reduce inflation, which in the Eurozone for the first time since 2011 is standing at 8.6 percent.