The dollar rose to its highest level in 17 months against the euro amid a wave of selling in government bonds in the United States and Europe, pushing U.S. Treasury yields to new highs, while rising oil prices contributed to inflationary fears.
The euro fell below the $1.123 level for the first time since May 2025 against the dollar, which continued to gain momentum over the past two months supported by several factors, including the largest quarterly increase in U.S. Treasury yields since 1994, according to CNBC.
