Euro Plummets Below 1.1600 as US-Iran Conflict Fears Intensify

The EUR/USD pair dropped below 1.1600 on Monday as investors became increasingly anxious about a potential US-Iran conflict.

This led to an increase in demand for safe-haven assets, causing the dollar to rise and putting pressure on risk-sensitive currencies like the euro.

According to analysts, the euro's decline is primarily due to risk aversion rather than fundamental eurozone weakness.

The dollar's strength has not been limited to the euro, with other major currencies such as the British pound and Japanese yen also feeling the effects of risk-off sentiment.