The euro falls sharply against the dollar following Donald Trump’s victory

Euro value: Donald Trump’s recent victory has stirred up the U.S. economy, leading to big changes. Bitcoin’s value jumped to a record $75,359 as investors reacted to the news. At the same time, the euro has dropped against the dollar, now sitting below 1.0700, its lowest in four months.

Back at the start of 2024, the euro was valued at 1.10, but experts expect it may fall even further. These shifts show just how much uncertainty the economy is facing right now.

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Euro value: Why did the euro decline after Donald Trump won?

Markets are anticipating that Donald Trump’s economic policies will help boost the U.S. economy, which is why the euro is falling against the dollar. Trump has promised to raise tariffs and cut corporate taxes, measures expected to increase domestic demand and create jobs. This, in turn, could drive inflation up and make the dollar stronger.

However, economies that rely on exports to the US, like the Eurozone, are impacted by this protectionist policy. The euro is under selling pressure as a result of market concerns that new trade restrictions and tariffs may impede the expansion of the European economy.

The European Central Bank (ECB) may need to take drastic steps, like rate cuts, in response to Trump’s tariffs, which could actually deduct up to 1.5 points from Europe’s growth, according to a European bank.

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Largely related to the price of oil:

• Kuwaiti dinar (KWD): $3.25.

• Bahraini dinar (BHD): $2.65.

• Omani rial (OMR): $2.60.

• Jordanian dinar (JOD): $1.41.

• Pound sterling (GBP): $1.28.

• Cayman Islands dollar (KYD): 1.20 USD.

• Gibraltar pound (GIP): $1.27.

• Swiss franc (CHF): $1.17.

• Euro (EUR): 1.10 USD.

• United States Dollar (USD): 1.00 USD.