Dollar Surges Past Euro with Largest Monthly Gain in 14 Months

The US dollar has been on a strong run against its European counterpart, the euro. As of Wednesday, the dollar was near this year's high versus the euro and poised for its largest monthly gain in 14 months.

This surge is attributed to the contrast between the robust economic growth and rising interest rates in the US compared to the energy and debt concerns plaguing Europe.

The euro hit a low of $1.1312 on Tuesday, its lowest level since May 2025, and was trading near that price again on Wednesday.

The dollar's strength has also had an impact on other currencies, pushing the Australian dollar below 70 cents for the first time since early August.