EU’s single currency drops in value against dollar

This week, the valued of the euro fell below 1.06 US dollars for the first time in five years, British news portal The Guardian reports.
On Wednesday, April 27, investors sought out safe-haven investments like the dollar, amid rising concerns around Europe’s energy safety, and the economic growth slowdown in Europe and China. On Wednesday, the euro’s valued fell to USD 1.05890 after Russia’s Gazprom cut gas supplies to Poland and Bulgaria after the countries refused to pay for gas in roubles.
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The EU’s single currency used in the eurozone has lost more than 4% of its value so far in April, and is heading for its worst monthly loss in more than seven years, The Guardian reports.