At 5:23 PM Lisbon time, the euro was valued at 1.1512 dollars, reaching its highest level since November 2021.
The foreign exchange market, much like the stock exchanges, has been influenced by the ongoing trade war and the United States’ criticism of the Federal Reserve.
Since April 2, the trade war has intensified following the United States’ announcement of reciprocal tariffs. However, this tariff policy experienced a setback due to its impact on the markets and the increased cost of financing the U.S. debt.
U.S. President Donald Trump, nonetheless, chose to raise tariffs on China to 245%, prompting retaliatory tariffs from China.
In response, Beijing increased its tariffs on the United States to 125%.
Donald Trump has also been vocal in his criticism of Federal Reserve Chairman Jerome Powell, whose term ends in May 2026.
“If I want him to leave, he will leave very quickly. Believe me,” Donald Trump stated last Thursday.
On Monday, Trump had already referred to Powell as “a big loser.”
