Euro Slumps Below 1.15 as Geopolitics and Oil Prices Take Center Stage

The euro has been steadily losing ground against the US dollar this month, falling back below the 1.15 level in recent trading sessions.

This decline can be attributed to the hawkish Federal Reserve announcement earlier this month, which has had a ripple effect on global markets.

The jump in oil prices is also taking its toll on European currencies, including the euro, as it affects terms of trade and drives flows into safe-haven assets.

With no major macroeconomic news expected to emerge from the Euro Area this week, geopolitics and rising oil prices are likely to take center stage once again.

As Brent crude continues to rise, further euro weakness is possible, with some analysts predicting a potential run at the 1.14 level in the near-term.