Affected by the escalation of the situation in Ukraine and widespread protests in France, market confidence in the euro was undermined, and the euro weakened against most G10 currencies. In early Asian trading on Monday, the euro fell 0.5% against the US dollar. Earlier, Ukrainian President Zelensky accused Trump of trying to pressure Kyiv to force Ukraine to surrender to Russia. Protests broke out in several French cities. Demonstrators clashed with police, causing the country's worst street violence in many years. The euro fell as low as $1.1183, then partially recovered and traded around $1.1212. Commonwealth Bank of Australia strategist Carol Kong said, “The market may continue to include risk premiums for the euro. EURUSD is likely to test the 1.1130 support level this week, especially as geopolitical tension pushes the dollar further.”

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