Euro Reaches Three-Month High Amid US Sanctions Uncertainty

The euro has risen to its highest levels in three months as markets await details of US sanctions against Iran. The currency gained 0.1% against the dollar on Monday, reaching $1.1687, after a low of $1.1672 earlier in the session.

The move is attributed to weakness in the American currency amid concerns surrounding the US debt crisis and the potential impact of economic sanctions on Iran's trading partners, including China.

US Treasury Secretary Scott Bessent has announced plans to unveil a new package of economic sanctions against Iran, described as one of the most powerful financial attacks Washington has ever launched against an adversary. The measures are expected to target key pillars of Iran's economy and its trading partners.