Euro Hits Four-Week Low as US Dollar Strengthens

The euro has extended its losses to a four-week low against the US dollar, falling over 0.3% to $1.1558 in European trading on Monday.

This marks the third consecutive day of decline for the currency and comes as investors await the Federal Reserve's policy meeting, which begins on Tuesday with a decision due on Wednesday.

The rise in US Treasury yields is also contributing to the euro's weakness, with the 10-year yield reaching a three-year high near the 5% threshold.

European Central Bank President Christine Lagarde has warned that inflationary pressures are likely to persist for longer due to ongoing geopolitical tensions and disruptions to maritime shipping.