The euro exchange rate is falling against the dollar on Monday evening on concerns about the European economy due to the worsening energy crisis, including the suspension of Nord Stream, show the trading data, and comments by analysts.

What’s happening to the euro exchange rate chart?

The euro-dollar exchange rate was down to $0.9922 from its previous close of $0.9951. The dollar-yen exchange rate was up to 140.55 yen from 140.2 yen. And the dollar index (exchange rate against a basket of currencies of six U.S. trading partners) was up 0.26% to 109.82 points.

Gas prices in Europe jumped more than 30% at the start of Monday’s trading, now up 14%. Quotes reacted to Friday’sannouncement by Gazprom that the Nord Stream pipeline, previously halted for three days for scheduled maintenance, could not resume operation due to an oil leak on its only working Trent 60 unit.

The persistence of high energy prices is increasing investor fears about the prospects for Europe’s economy, and it is putting pressure on the euro.

“Europe’s energy crisis has swung to another critical phase,” Suzanne Streeter, senior investment and markets analyst at Hargreaves Lansdown, told Marketwatch.

Earlier, we reported that stocks were recovering from a 3-day slump amid a rise in China.