- The EUR/USD retreated from 1,1631, the highest level since October 2021.
- The euro faces difficulties due to the increase in the demand for safe refuge after Israel’s preventive attack on Iran.
- President Trump threatened to extend steel tariffs on the “products derived from steel” imported as of June 23.
The EUR/USD stops its four -day winning streak, going back from 1,1631, the highest level since October 2021, and currently quoting around 1,1530 during Friday’s Asian hours. The torque depreciates as the US dollar (USD) receives support while operators move towards a greater demand for safe refuge, driven by the increase in tensions in the Middle East.
Israel attacked dozens of sites in Iran to dismantle its nuclear program. Israeli defense minister Israel Katz said that Israel could face an attack with missiles and drones after Israel’s preventive attack on Iran. Katz declared a special state of special emergency in the country, according to Axios.
In addition, the Secretary of State of the White House, Marco Rubio, issued a statement that says: “Tonight, Israel took unilateral action against Iran. We are not involved in attacks against Iran, and our top priority is to protect US forces in the region.” “President Trump and the Administration have taken all the necessary measures to protect our forces and remain in close contact with our regional partners.” Let me be clear: Iran should not attack the interests or US staff, “Rubio added.
However, the fall of the EUR/USD torque could be contained since the US dollar (USD) could face difficulties after the new threat of US president Donald Trump to expand steel tariffs from June 23 on the “imported products” imported, such as appliances, such as dishwasher, washing machines, refrigerators, etc. Tariffs were initially imposed at 25% in March and then doubled to 50% for most countries. This is the second time the scope of the affected products is extended.
The dollar faces additional pressure down, driven by inflation data of consumer and softer producers than expected, which reinforces the expectations of additional cuts of interest rates by the Federal Reserve this year. The feeling of the US Michigan consumer will be observed later in the day.
Euro price today
The lower table shows the percentage of euro change (EUR) compared to the main currencies today. Euro was the weakest currency against the Swiss Franco.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.48% | 0.45% | -0.06% | 0.24% | 0.88% | 0.85% | -0.24% | |
| EUR | -0.48% | 0.00% | -0.46% | -0.18% | 0.49% | 0.35% | -0.73% | |
| GBP | -0.45% | -0.01% | -0.54% | -0.26% | 0.39% | 0.32% | -0.72% | |
| JPY | 0.06% | 0.46% | 0.54% | 0.30% | 0.93% | 0.88% | -0.20% | |
| CAD | -0.24% | 0.18% | 0.26% | -0.30% | 0.62% | 0.62% | -0.46% | |
| Aud | -0.88% | -0.49% | -0.39% | -0.93% | -0.62% | -0.05% | -1.11% | |
| NZD | -0.85% | -0.35% | -0.32% | -0.88% | -0.62% | 0.05% | -1.05% | |
| CHF | 0.24% | 0.73% | 0.72% | 0.20% | 0.46% | 1.11% | 1.05% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the euro of the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the EUR (base)/USD (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
