Euro Hits Three-Month Low as European Stocks Close Mixed

European stocks closed mixed on Tuesday as investors weighed the impact of rising bond yields and energy prices. The pan-European STOXX 600 slipped 0.09% to 638.08 points, giving up earlier gains.

The euro fell to its lowest value against the US dollar in three months, dropping by 0.38% to $1.1328. Investors are assessing the prospect of additional Federal Reserve rate increases and the effect of high energy costs on Europe.

Oil prices remained above $100 a barrel for part of the day, keeping inflation risks in focus. The yield on the 30-year US Treasury reached its highest level since 2002, making equities less attractive and raising borrowing costs for companies.