Euro tests support as Ukraine crisis threatens economic growth

Published by
Reuters UK

By Tom Westbrook SINGAPORE (Reuters) – The euro was under pressure on Wednesday as intensifying Russian bombardment of Ukraine’s cities and surging oil prices raised investors’ concerns about a hit to Europe’s economy and growth. The common currency briefly fell below support to touch a 21-month low of $1.1090 overnight, before recovering a slightly to last trade at $1.1114. “The risk is a sustained move below $1.1106 if market participants downgrade the Eurozone economic outlook,” said Commonwealth Bank of Australia analyst Kim Mundy. Sterling, which fell 0.7% overnight, was also squeezed at …

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