Why is the Euro falling?

1.European countries Germany and Italy are heavily depend on Russia for natural gas supplies. Fears of Russia cutting off natural gas supplies is dragging down the currency value.

2. US federal reserve has been increasing interest rate for the dollar for several months, which makes investments in the US dollar area more attractive. Dollar system is a commercial and financial network and also political and military power plays a part in anchoring the global dominance of the dollar. Rising dollar creates both winners and losers. It means that other currencies are falling in relative terms. One might expect that the effects of a rising dollar would be offset by the effects of the falling value of other currencies.