What happended to the euro ?

The euro has fallen below the symbolic level of $1.00 for the first time since December 2002, weighed down by the darkening economic outlook for the single-currency area and a possibility of a complete stoppage in Russian gas supplies.

The euro was pushed down to $0.9998 on Wednesday after official data showed a surge in US inflation in June, increasing expectations for a further tightening of interest rates by the US Federal Reserve.

Source: aljazeera.com