Euro nears parity with dollar as pound hits two-year low

Europe's single currency battered by fears over gas supply from Russia and US interest rate rises

• Analysis: Fears of energy crunch dragging down euro in face of strong dollar

The euro is on the brink of parity with the dollar as investors fear that an energy crisis will plunge the region's economy into recession.

The single currency fell to just $1.0003 on Tuesday morning, pushed lower by worries that the scheduled shutdown of the Nord Stream 1 pipeline - which transports natural gas from Russia to Europe - for maintenance could be made permanent.