Dollar marches higher, euro teeters on brink of parity

Sterling was similarly down 0.25% to $1.18645, after earlier sinking to a fresh two-year low at $1.186

The U.S. dollar hit a fresh two-decade peak versus major peers on Tuesday, hoisted by safety bids and expectations of further aggressive rate hikes by the Federal Reserve, while the euro was pinned close to a 20-year low near parity to the greenback, Qazet.az reports.

The dollar index , a measure against six counterparts, with the euro most heavily weighted, was 0.25% higher at 108.43. It had earlier climbed to 108.47, its highest since October 2002.

That dollar bullishness was showcased across much of the currency markets, with the euro falling as low as $1.0006 on Tuesday, the weakest since December 2002. It last changed hands down 0.29% at $1.0013.