Euro Back Below Parity with Dollar, British Pound at Multiyear Low as Dollar Rises

The euro slipped back below parity with the U.S. dollar Thursday while the British pound hovered at its lowest levels since the Covid pandemic.

The euro was around $0.9964 at midday while the pound was around $1.1805, a sign of just how worrying Europe's energy crisis remains to the economic outlook.

Stateside, interest-rate increases and relative economic strength have buoyed the dollar to a two-decade high. The WSJ Dollar Index, which measures the greenback against a basket of peers, is up 2.2% this month and remains just a fraction below its recent closing high.