Dollar strengthens further as euro hits 17-month low
The US dollar continued its aggressive rise on Tuesday, supported by higher US Treasury yields. The dollar index reached 102.16, after hitting an 18-month peak the day before.
The euro weakened further, dropping to $1.1220 in early Asian trading. It had earlier hit its lowest level since May 2025, extending a 1.2% decline from the previous week. Political uncertainty and fiscal concerns in the euro zone weighed heavily on the currency.
Against the British pound, the euro fell to 84.83 pence, after losing over 1% last week. The dollar also gained against other major currencies, including the yen, which rose to 157.92.
The Australian and New Zealand dollars both slipped 0.07% to $0.6967 and $0.5596, respectively. The broader market saw the dollar strengthen as US Treasury yields climbed to multi-decade highs overnight.