In Asian markets, the euro fell to $0.99 for the first time since 2002.

On September 5, the value of the British pound is at its lowest value in two and a half years, namely at 1.14 dollars.

The European currency is under pressure since Russia cut gas deliveries to Europe through the "Nord Stream I" gas pipeline.

Euro drops below 99 US cents for the first time in 20 years.

It's also dropping against other peers.

Looks like this is has as much to do with aversion to the Euro as it does to loving the USD pic.twitter.com/rv4ydP3iOA

— David Ingles (@DavidInglesTV) September 5, 2022

Russian authorities said the disruptions are due to oil leaking from the pipeline's turbines.

Meanwhile, officials in Germany, the country where Russian gas comes through this pipeline, have said that the interruptions and reduction of Russian energy supplies are Moscow's attempt to punish Western countries that have imposed sanctions on it due to the unprovoked invasion of Ukraine.

The announcement of the suspension of natural gas shipments also came after the finance ministers of the seven most industrialized countries (G7) set a price ceiling for Russian oil.

/Telegraph/