Dollar Index Soars to Highest Level Since June as Euro Falls

The dollar index rose to its highest level since June after a significant gain of 0.58% on Monday, reaching 99.66.

This is the largest single-day increase in the dollar index since June, and it marks a notable shift in market sentiment.

The euro lost ground against the dollar, falling to its weakest level since August 13 at 1.1525, with a session low of 1.1536.

This move was driven by several factors, including Federal Reserve tightening expectations, higher US yields, and an energy shock that damaged importing economies.