US dollar index hits 100 for 1st time in 2 yrs; euro drops to $1.0837

The euro last changed hands at $1.0853, down 0.3 per cent on the day. It has fallen in seven straight sessions.

Minutes of the Fed's March meeting showed ‘many’ participants were prepared to raise rates in 50-basis-point increments in coming months, according to a top global newswire.

Meeting minutes from the European Central Bank suggested its policymakers are keen to act to combat inflation, but the eurozone has so far taken a more cautious tack than other central banks, weakening the euro.

The euro has been under pressure due to investor concerns about the economic costs of the war in Ukraine and the presidential election in France. A tightening election race between President Emmanuel Macron and far-right candidate Le Pen has added pressure on the euro, raising investor concerns about the future direction of the eurozone's second-biggest economy.

ALCHEMPro News Desk (DS)