At 18:00 (Lisbon time), the euro was trading at $1.1541, down from $1.1600 at the same time on Monday.
The euro also weakened against the pound and the yen.
The European Central Bank (ECB) set the euro reference exchange rate at $1.1533.
The International Monetary Fund (IMF) today upgraded its forecast for eurozone growth in 2025 to 1%, driven by stronger-than-expected export performance from the Irish economy.
In its World Economic Outlook report released today, the IMF revised the GDP growth forecast for the euro area’s economy upward by 0.2 percentage points from its April projection of 0.8%.
The improvement, the organization explained, “is largely driven by the strong GDP outcome in Ireland in the first quarter of the year.”
The IMF also revised its global growth forecasts upward for the current year and 2026, anticipating a growth rate of 3% for this year and 3.1% for the next.
The institution attributed this trajectory to four main effects: stronger-than-expected economic growth at the start of the year before the implementation of new tariffs announced by the United States and the response from trading partners; the application of “effective average tariff rates in the United States lower than those announced in April”; improved “financial conditions, notably due to a weaker US dollar”; and “fiscal expansion” in some major economies.
Currency Exchange Rates
………………………….Today…………..Monday
Euro/USD…………….1.1541……………..1.1600
Euro/GBP……………..0.86528…………..0.86704
Euro/Yen………………171.47……………172.24
USD/Yen………………148.57……………148.49
