Euro Faces Pressure as Oil Prices Rise and Italy's Fiscal Position Concerns Grow

The euro is under pressure due to rising oil prices and concerns about Italy's fiscal position, putting it at risk of hitting parity with the dollar. The euro has shed 3% in the third quarter and is on track for its third consecutive year of losses. High oil prices, along with concerns about Italy's fiscal position, are contributing to the weakness of the euro. The euro's exposure to geopolitical risk and its competitiveness also contribute to its weakness.