Euro slides below $0.99 after Russia halts gas supplies to Europe

10 and 5 euro notes.

Adrien Fillon | Nurphoto | Getty Images

The euro has fallen below $0.99 for the primary time in 20 years after Russia stated it will shut off its fundamental gas provide pipeline to Europe indefinitely.

At 7.30 a.m. London time Monday, the euro was buying and selling at 0.9898 versus the greenback, simply off lows of round 0.9881 hit earlier within the morning.

The greenback index, which measures the dollar towards six main currencies, breached a contemporary two-decade excessive because the British pound slid on fears over power provide and European financial progress. 

On Friday, Russian power provider Gazprom introduced it will not resume its provide of pure gas to Germany via the important thing Nord Stream 1 pipeline, blaming a malfunctioning turbine.

This is a breaking information story and will likely be up to date shortly.

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