The Euro depreciated due to concerns over France.
The euro came under renewed pressure as concerns over France's high debt levels and political uncertainty intensified.
EUR/USD fell more than 0.8% in Asian trading to as low as $1.1161, its weakest level in roughly 17 months.
The spread between French and German 10-year government bond yields climbed above 150 basis points, fueling concerns that France's fiscal stress could spill over into the broader euro area. The U.S. dollar strengthened, also supported by elevated Treasury yields.
ECB Chief Economist Philip Lane said higher energy costs, elevated yields and diminishing fiscal support could weigh on growth. Lane also stressed that the ECB is not committed to a predetermined rate path, with euro-area inflation reaching 3.8% in September.
Comments