Euro Hits Two-Week Low Amid Rush for Dollar Protection

The euro has dipped to a two-week low against the dollar due to increasing pressure from higher energy prices and rising US bond yields.

A gauge of options market positioning shows that traders are rushing to protect themselves against further losses, with this rush being the longest since 2017.

The common currency dropped by 0.2% to $1.1566, while a shift in favor of the dollar has been seen in each of the last nine sessions, which is also the longest such streak since 2017.