The euro (EUR) was negotiated defensively on Friday, since President Trump announced that reciprocal tariffs would soon arrive, says Shaun Osborne, head of FX of Scotiabank.
EUR is negotiating weaker in the day
“The EUR has lost a little more land during the weekend, but – after the president highlighted cars as a goal last week – the Eur can breathe a small sigh of relief to know that this round of threats Tariffs can affect only German steel exports to the US.
“Cash losses stabilized in the upper area of 1.02 during the night, representing a setback of approximately 50% of the strong upward jump last week since 1.0140. The EUR can be consolidated in the short term above the minor support in 1,0280, but below a stronger resistance in the area of 1,0350/75 (MA of 40 days in 1,0370). “
Source: Fx Street
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