LONDON—The euro sank to a two-decade low versus the dollar on Tuesday as another surge in natural gas prices reignited worries about the health of the eurozone economy and data showed eurozone business growth slowed sharply in June.
The euro tumbled 0.9 percent against the dollar to $1.0325, its weakest since December 2002. Versus the Swiss franc, it dropped 0.7 percent to 0.9941 francs, its lowest since 2015.
“It will continue to be very difficult for the euro to rally in any meaningful way with the energy picture worsening and risks to economic growth increasing notably,” said Derek Halpenny, an analyst at MUFG.
Survey data showed business growth across the eurozone slowed further last month and forward-looking indicators suggested the region could slip into decline this quarter as the cost of living crisis keeps consumers wary….