As of 6:00 PM (Lisbon time), the euro was trading at $1.1576, compared to $1.1490 at the same time on Wednesday.
The euro also gained against the pound and the yen.
The European Central Bank (ECB) set the euro’s reference exchange rate at $1.1594.
In today’s session, the euro fluctuated between $1.1503 and $1.1628.
An official newspaper of the Chinese Communist Party expressed “cautious optimism” today following a meeting between Chinese and U.S. trade teams, emphasizing that despite “good indications,” Beijing is “waiting to see.”
“It is necessary to be cautiously optimistic. The meeting’s outcome showed good indications, suggesting that the most critical point of the tariff war has been overcome,” stated the Global Times editorial, noting that “the situation’s evolution will depend on the details” and “the implementation of the agreement itself.”
U.S. President Donald Trump announced on Wednesday, on his social media platform Truth Social, that under the new agreement, the U.S. will impose a 55% tariff on Chinese products, while Beijing will maintain a 10% tariff on American goods.
It was also announced today that the number of unemployment benefit claims in the United States reached 248,000 for the week ending June 7, a figure equivalent to the previous week, reported the U.S. Department of Labor.
The previous week’s figure was revised upward, increasing by about 1,000 to 248,000.
The four-week moving average, which is a more reliable indicator of U.S. labor market performance, increased to 240,250, “a rise of 5,000 compared to the revised average of the previous week,” it noted.
Exchange Rates…………..today……………Wednesday
Euro/Dollar…………1.1576…………….. 1.1490
Euro/Pound…………0.85165……………. 0.84800
Euro/Yen………….166.23…………….. 166.17
Dollar/Yen…………143.62……………. 144.64
