Dollar set for September rise, mainly at euro’s expense
The euro dipped to its lowest since May 2025 at US$1.1312 as higher US interest rates contrasted with energy and debt worries in Europe.
The U.S. dollar reached a 14-month peak against the euro on Wednesday, poised for its largest monthly rise since September, driven by strong U.S. growth and rising interest rates compared to the euro zone's energy and debt concerns. Overnight, the euro hit its lowest level since May 2025, at US$1.1312, while the dollar hovered near its yearly high versus the euro.
Through September, the dollar has climbed nearly 2.5% against the euro, pushing Australia's currency below 70 cents for the first time since early August. Brent Donnelly, president of foreign exchange trading at Spectra Markets, highlighted Europe's struggles with AI, energy supplies, and French politics as key factors weighing on the euro.
The euro also sank to its lowest level against the Japanese yen, testing support around 178 yen. The dollar rose against the Swiss franc, which has suffered due to investors seeking low-yielding alternatives to the yen. The U.S. inflation data due later on Wednesday and Friday's U.S. jobs report will be crucial for determining future dollar movements.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 2 other outlets
- Dollar set for September rise, mainly at euro’s expense freemalaysiatoday.com
- Dollar set for September rise, mainly at euro's expense brecorder.com
