Euro surges on Trump’s universal tariff plan rumours
The euro entered its second day of recovery and was trading above 1.0400 at the time of writing on Monday, after the President-elect considered introducing universal tariffs on essential imports only.
The positive move was further supported by the release of December’s Purchasing Managers’ Index (PMI), with Spain, Italy, France, Germany and the wider Eurozone recovering from the previous month’s readings and beating expectations.
The market also gave the euro a boost due to global political turmoil. Italian Prime Minister Giorgia Meloni broke ranks with a united Europe by visiting President-elect Donald Trump at Mar-a-Lago, while Canadian Prime Minister Justin Trudeau is set to resign this week.
Source: FXStreet