Key euro-dollar market moments
The euro has struck parity against the dollar for the first time since 2002 as a cut in Russian gas supplies to Europe heightened fears of a possible recession in the eurozone. The single currency, which has also weakened in recent months as a result of interest rate hikes outside the eurozone, sank to exactly one dollar before rising slightly.
Here are the defining market moments for the euro:1998-99: launch at $1.17
On December 31, 1998, the indicative euro price is set at $1.17.
It swiftly crosses above $1.18 on January 4, 1999, the first trading day.2000: sinks under parity
In January 2000, the euro sinks below parity against the dollar, which is boosted by a booming US economy.
In October 2000, the unit collapses to a record low of $0.8230.2002: euro back above $1
The euro becomes physical legal tender on January 1, 2002. The eurozone's improving economic outlook helps guide the unit back above $1.2007-08: euro strikes record high
The global financial meltdown, rooted in the collapse of the US subprime property market, sends the greenback into freefall.
The euro spikes in July 2008 to a record high $1.6038. It has not gone higher.2010: plunges back under $1.2
The...