The dollar is crushing all major global currencies and continuing its ascent, not far from its monthly highs, thanks to the wave of optimism surrounding improving U.S. economic data, the faster-than-expected rollout of coronavirus vaccines, and rising Treasury yields. As the dollar takes hold of the competition, the outlook for the European currency has darkened due to the resumption of lockdowns and the slow pace of vaccination in the EU.
The greenback has more room to rise against the euro, which rebounded slightly ahead of the release of business climate data in Germany.
The euro broke through the 200-day moving average, falling below $1.18 over the weekend, the lowest since November.