At 6:00 PM (Lisbon time), the euro was trading at 1.0851 dollars, compared to 1.0801 dollars at the same time on Tuesday.
The euro also gained ground against the pound and the yen.
The European Central Bank (ECB) set the reference exchange rate of the euro at 1.0803 dollars.
During today’s session, the euro fluctuated between 1.0781 and 1.0858 dollars.
The President of the European Central Bank (ECB), Christine Lagarde, stated that tariffs set to be announced today by the U.S. President, Donald Trump, will “destabilize the world of trade as we know it.”
On what has been dubbed Trump’s “Liberation Day” for the U.S., Lagarde mentioned in an interview with the Irish radio program ‘The Pat Kenny Show’ that the impact of the tariff announcement “will not be good for those imposing the tariffs nor for those who retaliate.”
“From today, when they are expected to be announced, we do not really know what the deal will be for the rest of the world; what we do know is that it will not be good for the global economy,” she stated.
According to the ECB President, “the density and durability of the impact [of the tariffs] vary depending on their scope, the products they target, their duration, and whether or not there are negotiations.”
