Euro Hits Highest Level Since February 2022

The US dollar experienced a significant drop on Friday, with the euro climbing 1.58% to $1.1387, marking its highest point since February 2022. This dramatic shift occurred as markets responded to a series of new tariffs announced by US President Donald Trump.

Market Reaction to Trump's Tariff Announcement

The downturn in the dollar's value followed Trump's declaration of a 125% tariff on Chinese imports and a 90-day suspension on other trade duties. These measures have led to increased uncertainty, causing investors to rapidly sell off US assets.

By 4:05 am ET, the euro had surged 1.58% to $1.14170, while the dollar index fell by 1.15% to 99.7406 points.