Dollar Soars Against Euro as Energy Risks Weigh on Europe

The US dollar is nearing its high for the year against the euro, with a nearly 2.5% gain in September so far.

This surge is driven by a strong US economy and expectations of higher interest rates, while energy and debt risks weigh on Europe.

European gas prices have risen to their highest level since 2022, and France's debt problems and upcoming presidential election are also affecting the euro.

Brent Donnelly of Spectra Markets believes stronger US economic data will be needed for the dollar to strengthen further.