Dollar Set for September Rise Against Euro Amid US Growth

The US dollar is poised for its largest monthly rise against the euro in 14 months, driven by strong economic growth and rising interest rates in the United States. The euro has been under pressure due to concerns over energy supplies and debt in Europe.

The dollar has risen nearly 2.5% against the euro this month, with the euro dipping to its lowest since May 2025 at $1.1312. Brent Donnelly, president of foreign exchange trading at analytics firm Spectra Markets, said that the US economy is running hot and Europe is losing the global AI race.

The rising dollar has also pushed the Australian dollar below 70 cents for the first time since early August, with the New Zealand dollar facing challenges as well. The Australian dollar hovered around $0.6986 in Asia, while the New Zealand dollar was pinned at $0.5638.