Trump's Trade Deal Deadline Boosts Euro and Dollar Against Yen and Swiss Franc

The Euro and US dollar strengthened against the yen and Swiss franc after President Trump set a July 9 deadline for an EU trade deal, retracting a 50% tariff threat. Trump communicated this decision after a call with EU Commission President Ursula von der Leyen, providing optimism while showcasing the volatility of U.S. trade policies.

The euro and U.S. dollar surged against the yen and Swiss franc as President Trump set a deadline for finalizing a trade deal with the EU, retracting a 50% tariff threat slated for June.

The decision, disclosed to reporters after discussions with EU Commission President Ursula von der Leyen, indicates a potential ease in trade tensions, calming fears of a global downturn.

The euro climbed 0.3% to 162.60 yen and 0.2% against the dollar, following anticipation of an eventual settlement.

(With inputs from agencies.)