The euro surged to its highest level in nearly four years against the U.S. dollar, as global investors turned to safe-haven assets amid growing geopolitical tensions and uncertainty surrounding the U.S.-China trade deal.
Market sentiment shifted sharply on Thursday as geopolitical tensions and fragile trade negotiations drove investors toward safer currencies. The dollar weakened after the U.S. president announced plans to send letters to trade partners outlining new tariff rates, with the 90-day pause on “reciprocal” levies nearing its end next month.
This retreat of the dollar helped the euro climb to $1.1589 — its highest level since late 2021 — supported not only by rate expectations but also growing investor confidence in the eurozone’s economic stability. Safe-haven currencies also gained ground, with the Swiss franc and Japanese yen rising 0.8% and 0.6% respectively, after President Trump’s warnings about rising Middle East tensions and efforts to curb Iran’s nuclear ambitions fueled caution.
In Asia, the Chinese yuan edged up to 7.1818 per dollar, though its gains were capped by persistent U.S.-China friction.
U.S. forces struck two Iranian rocket launchers on Larak Island on Sunday, with Tehran responding by launching ballistic missiles at two U.S. bases...
The death toll from last week's catastrophic floods in Nepal and Tibet rose to 939 on Monday, with 3,044 peo...
At least 11 people, including eight children, have been killed after a powerful explosion at a firecracker fact...
Azerbaijani President Ilham Aliyev and Armenian Prime Minister Nikol Pashinyan have concluded talks in Bishkek, the capital of Kyrgyzstan, as leaders gather for the Shanghai Cooperation Organisation (SCO) summit.
Iran has reached an understanding with Oman on transit arrangements through the Strait of Hormuz, but the waterway will remain closed until the U.S. fulfils its commitments, a senior Iranian diplomat said on Saturday.
U.S. forces struck two Iranian rocket launchers on Larak Island on Sunday, with Tehran responding by launching ballistic missiles at two U.S. bases in Jordan in the first direct U.S.-Iran military escalation in weeks.
Russia views NATO’s growing military activity in the Arctic as a direct threat to its national security, Foreign Minister Sergei Lavrov said.
At least 37 people were killed after a Russian drone strike hit an ammunition depot in the Kyiv region, triggering powerful secondary explosions President Volodymyr Zelenskyy said on Saturday, vowing to punish suspected negligence in the second such incident in two months.
Online fast-fashion retailer Shein is seeking to raise up to $1.77 billion in a Hong Kong IPO after its valuation fell around 70 per cent from its private-market peak four years ago.
Kazakhstan has received a fresh vote of confidence in its economy after S&P Global Ratings upgraded the country’s credit rating, citing stronger public finances, solid reserves and steady economic growth.
AnewZ Business Europe, a new weekday programme, takes viewers inside companies driving growth and innovation across the continent, with Brickken CEO Edwin Mata joining the programme for its first episode with host Chief Global Editor Guy Shone. The show airs every Friday.
Once associated mainly with Muslim-majority countries, Islamic finance has become a global industry. Its assets reached around $5.98 trillion in 2024, according to ICD-LSEG, as more countries explore Shariah-compliant finance.
Fuel restrictions have returned to parts of Moscow and the surrounding region, adding another strain to Russia’s economy as refinery outages and rising imports weigh on the rouble.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment