Euro Hits 1-1/2-Month Low vs Dollar Amid Crude Price Plunge

The euro hit its lowest level in over a month against the dollar on September 22nd in London foreign exchange trading.

The euro traded at $1.1440-1.1450, down $0.0030 from the same time the previous day, with market participants largely waiting for fresh catalysts such as economic data releases.

However, crude oil futures fell on reports concerning the Strait of Hormuz, triggering broad-based selling of the dollar and causing the euro to briefly show resistance to further declines against the dollar.

The yen traded modestly higher against the dollar, with the dollar-yen pair falling from around 157.70 yen down to the 156.80 yen range due to persistent wariness over potential yen-buying currency intervention by Japanese authorities.