Euro Scales 9-month Peak as ECB Hawks Let Fly

U.S. Dollar and Euro banknotes are seen in this illustration taken on July 17, 2022. Dado Ruvic/Reuters

LONDON—The euro hit a nine-month peak against the dollar on Monday as comments on European interest rates signaling additional jumbo rate rises contrasted with market pricing for a less aggressive Federal Reserve.

The euro reached as high as $1.0927, breaking the recent peak of $1.08875, to trade at its highest level since April last year.