Euro and Pound Reach New Highs Against Dollar

In a surprising turn of events, the euro and the pound have surged to their highest levels against the dollar since October 2024. This significant increase comes in the wake of the United States imposing new tariffs on a wide range of countries, including the European Union and the United Kingdom.

Market Reactions to US Tariffs

By 9:56 am CET, the euro had gained an impressive 1.05%, trading at $1.09679. Similarly, the pound rose by 0.98%, reaching $1.3135. These movements highlight the immediate impact of the US's tariff decisions on global currency markets.

What This Means for Investors

The recent fluctuations in currency values underscore the interconnectedness of global economies and the swift reactions of the forex market to geopolitical events. Investors and analysts are closely monitoring the situation for further developments.