Euro Poised for Worst Quarter Since 2024 as Oil Shock Bites

The euro is heading for its worst quarter since 2024 as war in the Middle East underscores Europe’s dependency on energy imports and rattles the region’s economic outlook.

The common currency is down about 2% this quarter at around $1.15 and has lost 2.5% against the dollar in March, the most since July. It’s a sharp reversal from late January, when it punched past $1.20 to the strongest level in nearly five years.