Euro Plunges to 17-Month Low Amid Oil Price Spike and Inflation Concerns

The euro hit its lowest point in 17 months on Thursday, falling below $1.13 against the dollar for the first time since May 2025.

This decline comes as investors are battered by higher oil prices and inflation, which are weighing heavily on the regional economy.

The European currency also sank against the yen, Swiss franc, and barely held in positive territory against the pound.

Rabobank head of FX strategy Jane Foley said that 'this growth risk has been hanging over the euro,' adding that despite the ECB's interest rate hike, the euro hasn't been able to get traction due to concerns about Europe being an energy importer and upcoming political uncertainties.