The euro falls to its lowest level in 20 years as fears of a recession grow

The euro fell to its lowest level in twenty years during trading Tuesday, July 5th, after losing more than 1% of its value to record 1.0283 against the dollar.

This comes with the growing fears of recession in the euro zone, and the rise in prices, without any indications that the end of the Russian-Ukrainian crisis is near.

Inflation hit a record 8.6% last June, prompting the European Central Bank to give signals that interest rates will be raised for the first time in 11 years.