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Euro Nears 20-Year Low Against Dollar on Recession Fears

The euro neared a 20-year low against the dollar as investors worried that the eurozone may be approaching an energy shock that could tip it into recession. 

The bloc’s common currency fell 1.2% against the U.S. dollar to trade at $1.0301—its lowest level since late December 2002, according to FactSet. Its decline—as well as the dollar’s strength—this year has renewed concerns that the euro could reach parity with the greenback. The WSJ Dollar Index, which measures the dollar against a basket of 16 currencies, rose 0.7%.