The euro falls below the dollar for the first time in two decades

The euro fell below parity against the dollar on Wednesday for the first time in nearly two decades, as an hawkish US Federal Reserve and growing concerns about heightened risks of a euro zone recession continued to hit the currency. .

By 1245 GMT, the euro was down 0.4% at $0.998 EUR=EBS, its lowest level since December 2002.

The single currency has lost more than 10% so far this year against a rising dollar. The drop below parity came after another strong set of US inflation data.

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