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EUR/USD maintains its position near 1.1745, the highest since September 2021. The US Dollar struggles due to renewed concerns over the Fed’s independence. French President Emmanuel Macron warned that Europe will impose an equivalent levy if the 10% US tariff stays. EUR/USD extends its winning streak that began on June 18, trading around 1.1700 during the Asian hours on Friday. The EUR/USD pair continues to gain ground as the US Dollar (USD) faces challenges due to renewed concerns over the US Federal Reserve’s (Fed) independence. US President Donald Trump called, at the Hague on the sidelines of the NATO summit, the Federal Reserve Chair Jerome Powell “terrible” and shared that he has several potential successors in mind. “I know within three or four people whom I’m going to pick.” Trump could weaken Powell’s authority by announcing his preferred candidate by September or October to lead the central bank next year. Chicago Fed President Austan Goolsbee said on Thursday that political dynamics and the naming of a so-called shadow chair have no influence on policy decisions. Goolsbee added, “That would not affect the FOMC itself.” “Just look at the minutes and transcripts. You can see, word for word, what the rationale is in making the decisions, and they’re not about elections and they’re not about partisan politics,” he said as per CNBC. On Thursday, French President Emmanuel Macron said that he favors a speedy and equitable EU-US trade agreement. However, Macron also warned that if a 10% tariff from the United States (US) stays, Europe will retaliate by imposing an equivalent levy on US companies. European Central Bank (ECB) Vice President Luis de Guindos noted on Thursday, “The role of the Euro can expand if the European Union (EU) progresses with reforms.” “Markets are surprisingly calm in recent days given geopolitical…

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Filed under: News - @ June 27, 2025 6:26 am