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Euro slides to 20-year low against greenback Updated: 2022-07-06 13:11:46 KST

And as the dollar strengthens, the euro has fallen to its weakest in 20 years, now only a couple of cents away from parity with the dollar.
Many analysts say it's just a matter of time.
And that could spell trouble for Europe, where the ECB is about to start raising interest rates.
Shin Ha-young has this report.

The euro has fallen to its lowest level in two decades, amid increased fears of a recession across the euro zone and soaring gas prices.
The currency shed around 1.5 percent on Tuesday to trade at about 1 U.S. dollar and three cents.
The drop comes as euro zone inflation hit a record 8.6 percent in June.
To this end, Europe's central bank gave markets advance notice that it intends to hike interest rates for the first time in 11 years at its July meeting.
Europe's record high inflation has been driven by skyrocketing gas prices over the recent months, with the Ukraine war seeing no signs of abating.
Natural gas prices extended their relentless rise in the region on Monday, climbing to highs not seen since early March.
All of the abovementioned factors have converged to hit the euro hard.
It has even lost over nine percent of its value against the U.S. dollar since the beginning of this year.
Meanwhile, the dollar's strength continues, as risk-averse investors seek a safe haven, and the U.S. Federal Reserve embarking on what looks to be aggressive rate hike policies.
Kim Hyo-sun, Arirang News.
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