EU set to droop tariff countermeasures. Euro nears the 2024 excessive

There may be some constructive information popping out of Europe right this moment with the EU’s Sefcovic revealing that he spoke with Commerce Sec Lutnick and that counter-tariffs shall be suspended as ‘significant negotiations’ will start.

It will likely be a busy 90 days however a key query is whether or not the US will negotiate to permit tariff charges to fall under 10%.

The euro is up 2.2% right this moment within the largest one-day acquire since 2022 as cash floods out of the US. It is approaching the highs from late 2024.

I do not suppose this information is driving the euro rally, it is extra about broad and heavy US greenback promoting. The Swiss franc is placing a very large beating on the US greenback.

This text was written by Adam Button at www.ubaidahsan.com.



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