As of 18:02 Lisbon time, the euro was trading at $1.1337, compared to $1.1313 at the same time on Friday.
Conversely, the euro lost ground against both the pound and the yen, though it did not fluctuate significantly compared to the previous session.
The European Central Bank set the euro’s reference exchange rate at $1.1377.
The euro’s value has been increasing following the tariff war initiated by U.S. President Donald Trump, which has resulted in market volatility.
The United States announced over the weekend its decision to lift tariffs on many tech products.
However, U.S. President Donald Trump stated on Sunday that he will soon reveal the true extent of the new tariffs on these products. Analysts from Link Securities suggest this could “immediately alter the behavior of stock markets.”
In the currency market, notable movements in the yuan were observed after the People’s Bank of China intervened, “allowing the USDCNH [dollar/yuan] pair to surpass the 7.20 level due to escalating trade tensions between China and the U.S.,” highlighted Xtb in an analysis.
“This level has been considered by investors as a symbolic benchmark for the stability of the Chinese currency. However, recent announcements targeting the reinforcement of exports and liquidity in stock markets have shifted expectations regarding the official rate, now predicting values above 7.30,” the note released today stated.
