Euro Falls to Two-Week Low as US-Iran Tensions Escalate

The euro fell against a basket of major currencies on Wednesday, extending its losses to a two-week low as US-Iran tensions continued to support the US currency and push oil prices higher.

Renewed military tensions between the United States and Iran have driven safe-haven demand for the dollar, which rose 0.2% to reach a two-week high of 99.81 on the US dollar index.

The euro also fell against the dollar, dropping around 0.2% to $1.1574, its lowest level since August 19, as investors await further key economic data from the eurozone.