Euro falls to 20-year low, pound to all-time low
Demand for the dollar remained strong on Monday, with the US currency remaining a safe haven for investors in this time of crisis and uncertainty. This weighs on the course of other currencies, such as the euro and the pound sterling.
One euro thus fell to 0.95 dollars on Sunday evening, its lowest level since 2002. The pound sterling lost up to 5% to reach 1.0350 dollars, its lowest level ever. On Monday morning, both currencies were able to recover somewhat.
The dollar is benefiting from the uncertainty, especially around the war in Ukraine. The euro is suffering, for its part, particularly from the energy crisis in Europe. Elections in Italy - where the far-right won parliamentary elections - are also weighing on the European single currency.
The British pound is also under pressure, mainly due to tax cuts announced by the new government of Prime Minister Liz Truss.
