Dollar heads for biggest monthly gain vs euro in 14 months

The dollar is near this year's high against the euro and is set for its largest monthly gain in 14 months, driven by US economic strength and rising interest rates, while Europe faces energy and debt concerns. The euro dipped to $1.1312 overnight, its lowest since May 2025, and traded at $1.1339 in Asia. The dollar is up nearly 2.5% on the euro in September, also pushing the Australian dollar below 70 cents for the first time since early August. European gas prices spiked to their highest since 2022 this month, and French markets face pressure from debt and political gridlock ahead of next year's presidential election. The dollar also hit a 16-1/2-month high against the Swiss franc, while falling 1.5% on the yen in September.