The euro fell to levels unseen since April 2017 against the dollar on Wednesday amid the Russia-Ukraine conflict and its impact on the euro area economy. The relations between Russia and the European Union took a turn for the worse today as Moscow decided to halt gas exports to Poland and Bulgaria, which have refused to pay for Russian energy in rubles. The EU responded by announcing a coordinated response and assuring it will ensure the security of the energy supply in Europe.
The euro traded 0.29% lower compared to the dollar at 4:34 am ET, selling for 1.06052.
