The safe-haven dollar strengthened across the board, with the euro hitting a seven-month low

According to Gate market data, as the Middle East war escalates and drives the dollar to strengthen across the board, the euro to dollar exchange rate has fallen to its lowest level since August of last year, dropping 0.4% to 1.1467 on Friday, marking a new low in over seven months. Since the beginning of this year, the euro has cumulatively declined by more than 2%. The ongoing conflict in the Middle East has led the dollar to strengthen against all G10 currencies on Friday, prompting the latest round of declines for the euro. Oil prices have risen above $100 per barrel, further increasing the pressure on the euro.