banknotes (icon) Photo: dpa
From BZ/dpa
The euro continues to be under great pressure on the financial markets.
On Wednesday, the shared currency fell again to a 20-year low at $0.9544. The European Central Bank (ECB) had set the reference rate significantly higher on Tuesday afternoon at $0.9644.
The strong dollar continues to put many other currencies under considerable pressure. The US currency is buoyed by the general uncertainty as it is considered the world reserve currency. Added to this is the tight monetary policy of the US Federal Reserve, which is bracing itself against high inflation with strong interest rate hikes.
For its part, the euro is being weighed down by the energy crisis in Europe and the weak economic outlook.