BRUSSELS (Reuters) – The euro fell on Monday after Western powers said new sanctions were needed against Russia following the killing of civilians in Ukraine in what appeared to be war crimes. The euro, which is under pressure due to fears of economic damage from the war in Ukraine, fell 0.4 percent against the dollar to 1.1005 dollars at 11:20 GMT. Against the pound, it fell to its lowest level in six days, recording the latest decline of 0.3 percent at 84.01 pence. French President Emmanuel Macron called for new sanctions, and said there were clear indications that Russian forces had committed war crimes in the town of Bucha. The Kremlin denied any accusations of killing civilians in the town. German Defense Minister Christine Lambrecht said the European Union should discuss halting Russian gas imports. Russia supplies about 40 percent of Europe’s gas needs. The US dollar index, which measures the performance of the US currency against a basket of major currencies, including the euro, found support due to the rise in treasury bond yields amid expectations of a rapid rise in US interest rates. It rose 0.23 percent to 98,845. Markets in China are closed for a public holiday, but in offshore trading the yuan remained under pressure due to fears of a prolonged shutdown in Shanghai, as authorities seek to check all 26 million residents.
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