---
title: "Euro Climbs to $1.10 For First Time Since August as Dollar Falls"
description: "The euro advanced to $1.10 for the first time since August as the dollar sustained its weakening trend."
type: "NewsArticle"
publisher: "Daily Maverick"
site: "https://www.dailymaverick.co.za"
section: "Newsdeck"
author: "Bloomberg"
author_url: "https://www.dailymaverick.co.za/author/bloomberg/"
canonical_url: "https://www.dailymaverick.co.za/article/2023-11-28-euro-climbs-to-1-10-for-first-time-since-august-as-dollar-falls/"
published: "2023-11-28T18:55:12"
lang: "en-ZA"
word_count: 154
---

# Euro Climbs to $1.10 For First Time Since August as Dollar Falls

> The euro advanced to $1.10 for the first time since August as the dollar sustained its weakening trend.

By Bloomberg · Published 28 November 2023, 20:55 SAST

## Key points
- The euro has made a comeback, but analysts caution that the dollar's recent dip may not be long-lasting.
- EUR/USD up 0.4% on Tuesday, marking fourth-straight session of gains
- Bloomberg Dollar Index suffers biggest monthly drop in one year
- Euro rebounds from a low of $1.05 to climb 5%
- FX strategists warn against betting on sustained weakening in the dollar

## Content

The common currency was up as much as 0.4% on Tuesday, marking its fourth-straight session of gains. This comes as the Bloomberg Dollar Index suffers its biggest monthly drop in one year, with markets betting the Federal Reserve is finished with its interest-rate hiking cycle.

After nearing parity with the dollar in early October, the euro has rebounded from a low of $1.05 to climb 5%. Yet, currency analysts at firms including ING, JPMorgan and HSBC warn that it is too early to bet on a sustained weakening in the dollar and the euro remains to be vulnerable to paring its recent gains.

“EUR/USD should remain almost solely a function of USD moves and Fed rate expectations,” said Francesco Pesole, a FX strategist at ING. “We are not convinced the pair has enough backing on the rates side to trade sustainably above 1.10 and favor instead a correction below 1.0900 in the coming days.”