EUR/USD gives up majority of initial gains as US Dollar rebounds
The post EUR/USD gives up majority of initial gains as US Dollar rebounds appeared on BitcoinEthereumNews.com. EUR/USD surrenders some of its early gains as the US Dollar recoups its initial losses. Trump’s erratic policy announcements have renewed concerns over the USD’s credibility. According to revised estimates, the German economy rose at a robust pace of 0.4% in the first quarter of the year. EUR/USD gives back significant intraday gains and drops to near 1.1380 during North American trading hours on Monday from the monthly high of 1.1425 posted earlier in the day. The major currency pair surrenders gains as the US Dollar (USD) claws back significant initial losses, with the US Dollar Index (DXY) rebounding to near 99.00. However, the outlook of the US Dollar remains uncertain as erratic statements from Washington regarding tariff policies have renewed concerns over its credibility. Over the weekend, Trump suspended his decision to impose flat 50% tariffs on the European Union (EU) until July 9, after the old continent agreed to advance trade negotiations quickly and urged for some time to reach a good deal. European Commission President Ursula von der Leyen said in a post on X on Sunday that she had a “good” phone call with Trump and that the EU was ready to “advance talks swiftly and decisively.” “To reach a good deal, we would need the time until July 9,” she added. On Friday, US President Trump threatened to impose 50% tariffs on imports from the EU in a post on Truth.Social, which were expected to come into effect on June 1. “Our discussions with them are going nowhere! Therefore, I am recommending a straight 50% tariff on the European Union, starting on June 1, 2025,” Trump wrote. A quick de-escalation in trade tensions between economies situated on both sides of the Atlantic has provided relief to their equity markets and the Euro (EUR), but has…
The post EUR/USD gives up majority of initial gains as US Dollar rebounds appeared on BitcoinEthereumNews.com.
EUR/USD surrenders some of its early gains as the US Dollar recoups its initial losses. Trump’s erratic policy announcements have renewed concerns over the USD’s credibility. According to revised estimates, the German economy rose at a robust pace of 0.4% in the first quarter of the year. EUR/USD gives back significant intraday gains and drops to near 1.1380 during North American trading hours on Monday from the monthly high of 1.1425 posted earlier in the day. The major currency pair surrenders gains as the US Dollar (USD) claws back significant initial losses, with the US Dollar Index (DXY) rebounding to near 99.00. However, the outlook of the US Dollar remains uncertain as erratic statements from Washington regarding tariff policies have renewed concerns over its credibility. Over the weekend, Trump suspended his decision to impose flat 50% tariffs on the European Union (EU) until July 9, after the old continent agreed to advance trade negotiations quickly and urged for some time to reach a good deal. European Commission President Ursula von der Leyen said in a post on X on Sunday that she had a “good” phone call with Trump and that the EU was ready to “advance talks swiftly and decisively.” “To reach a good deal, we would need the time until July 9,” she added. On Friday, US President Trump threatened to impose 50% tariffs on imports from the EU in a post on Truth.Social, which were expected to come into effect on June 1. “Our discussions with them are going nowhere! Therefore, I am recommending a straight 50% tariff on the European Union, starting on June 1, 2025,” Trump wrote. A quick de-escalation in trade tensions between economies situated on both sides of the Atlantic has provided relief to their equity markets and the Euro (EUR), but has…
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