Strong Dollar Sends Euro to Lowest in More Than Decade

A flight to the US dollar pushed currencies around the world to their lowest levels in years, as economic prospects in Europe and elsewhere darkened under the cloud of soaring energy prices.

The euro neared a 20-year low against the dollar after natural-gas and electricity prices surged on the continent. Currency traders fear Europe’s economy might buckle if Russia completely shuts off natural-gas supplies that are used for heating homes, keeping lights on and running factories. Energy prices were further boosted by labor strikes at Western Europe’s largest gas fields in Norway.

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