The euro fell to around $1.151 on Monday, extending losses from the previous week and hitting its lowest level in more than three months, as investors sought the safety of the dollar amid escalating tensions in the Middle East. The conflict, now entering its second week, shows no signs of easing after US President Donald Trump demanded Tehran’s unconditional surrender. Rising oil and gas prices have also raised concerns, despite Trump’s pledge to protect tankers in the strategic Strait of Hormuz. The surge in energy costs has reignited worries over eurozone inflation, which could rise above the European Central Bank’s 2% target if price pressures persist. ECB Executive Board member Isabel Schnabel said that, while inflation is projected to meet the 2% goal over the medium term, the central bank “cannot be complacent.” She stressed the need to monitor the persistence of energy-price shocks, their effects on expectations, and whether firms pass higher costs on to consumers.