Gas Crunch Fears Hammer Euro, Lift Dollar and Swiss Franc

Gas Crunch Fears Hammer Euro, Lift Dollar and Swiss Franc
U.S. dollar, euro, and Ukrainian hryvnia banknotes are seen in this picture illustration taken in Kyiv, Ukraine, on Oct. 31, 2016. Valentyn Ogirenko/Reuters
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LONDON—The prospect of another Russian gas supply cut knocked the euro lower on Tuesday, while dollar gains were tempered by mounting uncertainty over the U.S. Federal Reserve’s policy-tightening path after this week’s expected interest rate rise.

European Union countries were preparing to approve an emergency proposal to curb gas demand, the prospect of which sent the single currency and German bond yields lower and hit German shares.