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Euro drops to 20-year low, approaches parity with dollar

13 Sept 12:36 Key points summarised by AI

The euro plunged to a 20-year low, nearing parity with the U.S. dollar, driven by concerns that an energy crisis could tip the eurozone into recession.
Fears intensified as the Nord Stream 1 pipeline, a major Russian gas artery to Germany, began annual maintenance, with markets worried about potential extended shutdowns due to the Ukraine war.
The U.S. dollar surged to a 20-year high, bolstered by expectations that the Federal Reserve will continue aggressive interest rate hikes to combat soaring inflation, outpacing other central banks.
Global growth fears also impacted other currencies, with the Australian dollar falling to a two-year low amidst new COVID-19 curbs in China and upcoming U.S. consumer price data (CPI) being a key economic focus.

Today 12:56 Key points summarised by AI

President Macron condemned widespread rioting and looting during nationwide protests, blaming far-left activists and criminals for the "unrestrained violence" and vowing accountability for those who "sought to bring down the Republic."
Over 2,400 arrests were made as protests against rising living costs and poor school conditions escalated, causing extensive damage to public buildings and businesses in cities like Paris, Limoges (where City Hall burned), Marseille, and Lyon.
The unrest, which organizers hoped would revive the "yellow vest" movement, saw political leaders trade blame, with Macron instructing prefects to protect public buildings and potentially ban future protests to prevent further disorder.