Dollar index exceeded 112 for the first time in 20 years, euro/dollar fell to 20-year low

Accelerating its rise after the Fed meeting, the dollar index exceeded 112 for the first time since 2002.

In addition to the global strengthening in the dollar, concerns about the economic slowdown in the Euro Zone continued to rise. While the decline in manufacturing and production continued in the Euro Zone, the service sector also entered the contraction zone.

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In Germany, the strongest economy in the Euro Zone, the contraction in the service sector has sharpened. PMI announced today, with 45.4, fell to the lowest level after June 2020. Pressure increased on the euro as well.

Euro/dollar fell to 0.9750, the lowest level in 20 years.

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