The euro fell to a one-year low against the dollar as easing Iran tensions cooled oil prices and dimmed odds of another ECB rate hike.

The euro hit intraday lows near $1.1515 as Brent crude's drop from $120 to $82 eases ECB inflation pressure, reshaping rate hike expectations for 2026.

Traders back away from bets on further interest rate rises as economy slows