For the First Time in 20 Years.. The Dollar is Stronger than the Euro

The exchange rate of the euro, the single European currency, has fallen today, Wednesday, below the dollar for the first time since 2002, nearly 20 years ago. As of 15:53 Moscow time, the euro's exchange rate dropped to 1.0026 dollars, and moments earlier, the European currency fell to 0.9999 dollars. The euro had finished trading on Tuesday at 1.0036 dollars. The European currency is facing pressure due to fears of an economic recession in the eurozone, amid the ongoing energy crisis and expectations of an interest rate hike by the European Central Bank (ECB) at its upcoming meeting in July 2022.