In the London foreign exchange market on the 5th, the euro, a currency introduced by 19 countries such as Germany and France, plunged against the dollar and temporarily dropped to the level of about 19 and a half years since December 2002.
The market is aware of the slowdown in the euro area economy following Russia's military invasion and record inflation.
In the London foreign exchange market on the 5th, the movement to buy the dollar and sell the euro has accelerated against the background of a harsh view of the future of the euro area economy.
The euro temporarily broke below the $ 1.03 level at 1 euro and has fallen to the level of about 19 and a half years since December 2002.
Behind the euro selling is the market's invasion of Ukraine and record inflation, which has led to a harsh view of the eurozone's economic outlook.
Market officials said, "The Central Bank of Europe has decided to raise interest rates this month, but the fact that it cannot keep up with the pace of interest rate hikes in the United States has led to a renewed awareness of interest rate differentials, leading to dollar buying and euro selling." I am.