[Ticker] Euro slides to lowest level in two decades

EU Reporter

The euro on Tuesday dropped to its lowest level since 2002 as traders fearing a potential recession rushed into the safety of the dollar. “People want dollars in times of stress and anxiety,” said Jane Foley, head of FX strategy at Rabobank, to the FT. Amid growing energy and food prices inflation in the euro area hit a new high of 8.1 percent in May, OECD figures out Tuesday showed.