EUR/USD is trading over half a percent lower on Monday, with a single Euro (EUR) buying about 1.0500 US Dollars (USD) as New York awakes to the sound of alarm clocks and scent of coffee.
EUR/USD declines on Monday as the French government faces a potential vote of no confidence. The US Dollar strengthens due to Donald Trump’s threat to hit BRICS countries with 100% tariffs. Dovish commentary from ECB’s Martin Kazaks adds to the negative sentiment around the Euro. EUR/USD is trading over half a percent lower on Monday, with a single Euro buying about 1.0500US Dollars as New York awakes to the sound of alarm clocks and scent of coffee.
which includes Brazil, Russia, India, China, South Africa, Egypt, Iran, the United Arab Emirates, and Ethiopia – has been steadily reducing its reliance on the USD as a medium of exchange, using the currencies of its members instead, whilst mulling an alternative reserve currency of its own. “The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER,” Trump posted on Truth Social on Saturday afternoon.
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