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Dollar nears 14-month high vs euro
The US dollar is on track to achieve its largest monthly gain against the euro in 14 months, supported by the strength of the American economy and higher interest rates compared to Europe. Meanwhile, the euro faces downward pressure due to the energy crisis, debt issues, and political stagnation in France. The dollar rose by approximately 2.5% during September, nearing its highest levels since May 2025, leading the euro to its lowest point in over a year. The dollar also maintained its strength against other major currencies, such as the Swiss franc, while falling more than 2% against the Japanese yen in September, driven by Japanese purchases. European gas prices hit record highs, reflecting economic tensions and political concerns in the region. Markets are awaiting key US data, including the Personal Consumption Expenditures (PCE) index and employment reports, which could influence expectations around US interest rates. Overall, the developments suggest ongoing dollar strength and a global markets influenced by economic and political challenges.
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