The Euro Drops To A 5 Year Low As Energy Supply Shortage Looms Over EU Economy
The euro fell significantly against the US dollar and gold Wednesday due to concerns about a drop in energy supplies in Europe. The euro dropped as low as $1.05. The currency dip happened as a result of Russian state energy company Gazprom‘s halted natural gas to Bulgaria and Poland. Moscow recently announced to gas customers a change in its payment method, now requiring countries to pay in rubles instead of dollars or euros. Q1 2022 hedge fund letters, conferences and more Investors are increasingly concerned about the prospects of an incoming recession in Europe because of the energy shortag...