The euro reached a three-week low against the US dollar primarily due to renewed trade tensions stemming from President Trump's planned 30% tariff on EU and Mexican imports. In response, the European Union extended its suspension of countermeasures. Meanwhile, German 10-year Bond yields climbed to 2.73%, indicating investor caution. The ECB appears reluctant to implement further rate cuts, as reflected in Board member Isabel Schnabel's recent comments about the high bar for additional easing due to stable inflation expectations and eurozone growth. Upcoming economic data may influence the euro's trajectory.
The euro was at a three-week low against the US dollar as renewed trade tensions, fueled by President Trump's tariff announcement, weighed on the common currency.
German 10-year Bond yields rose to 2.73%, reflecting investor caution, while the ECB's board member suggested a pause in the easing cycle.
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