Asian stocks fall to lowest level in two years

The refurbished Hong Kong Stock Exchange in Hong Kong, China, on June 24 2022. Picture: Bertha Wang/Bloomberg

The euro fell as low as $1.0006 against the US dollar, moving closer to parity for the first time since December 2002, as investors worry an energy crisis will tip the region into a recession. The focus for this week will be macro data including the US consumer price index on Wednesday and comments from Federal Reserve officials as investors look for clues for the outcome of the Fed’s upcoming policy meeting before officials enter the pre-meet blackout period. A high inflation reading would add pressure for the Fed to step up its already aggressive pace of interest rate increases.

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