Euro Hits Lowest Level Since July as Dollar Strength Continues

The euro has fallen to its lowest level since July ahead of key PMI data releases from the Eurozone and US. The continued strength of the US dollar, reflected in the US Dollar Index's move above 100, is putting pressure on the euro. This, combined with weaker Eurozone consumer confidence, which fell to -17 in September, is contributing to the decline.

The upcoming PMI releases will provide a crucial indicator of the relative strength of both economies and could influence the direction of EUR/USD. Stronger-than-expected Eurozone PMI data could boost confidence in the euro, while weaker readings may reinforce concerns over regional growth. Conversely, stronger US PMI data could support the dollar and add pressure on EUR/USD.