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7/5, 12:50 PM (Source: TeleTrader)
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Euro lowest since 2002 vs. dollar as drop continues

The euro continued its downfall on Tuesday, hitting the lowest level against the dollar since 2002. The decline came amid soaring gas prices and increased fears of a recession.

Shortly after hitting a 20-year low of 1.02804, the euro slid 1.16% against the greenback to go for 1.03017 at 12:46 pm CET.

The joint European currency also slid to a 7-year low compared to the Swiss franc, dropping 0.94% to go for 0.99251 at 12:24 pm CET. The euro was down 0.58% against the pound, changing hands for 0.85596 at 12:50 pm CET.

Baha Breaking News (BBN) / NP