EUR/USD: Euro Kicks Off Week Upbeat to Cross $1.15 for First Time in Four Years

2021 called — it says the euro is back in style as US dollar gets dumped on trade war fears, Trump’s feud with Powell.

💪 Euro Breaks Out as Dollar Buckles

• The euro just pulled off a four-year high — and it didn’t even break a sweat. EURUSD surged past $1.15 on Monday, marking the first time the pair has touched those levels since November 2021. What’s driving it? A potent mix of US dollar weakness, trade war tensions, and political jitters out of Washington.
• More precisely, you’ve got Donald Trump taking aim at Federal Reserve Chair Jay Powell, accusing him of dragging his feet on rate cuts. At the same time, his administration is turning up the heat on China with dangerous tariff threats.

📞 Rival Currencies Surge

• It’s essentially a double whammy that’s lighting a fire under safe havens like gold and sending traders rushing out of the dollar. Gold this morning hit a record high at just under $3,400 per ounce. The US dollar? Its index slumped to a fresh three-year low of 97.92 as rival currencies gained tons of pips.
• In Europe, the eurozone isn’t exactly booming — but right now, it looks like the cleanest shirt in the laundry basket. Economic data has stabilized, the European Central Bank is cutting interest, and the absence of political chaos is, frankly, a bullish edge.

🚨 Greenback Down 13% in 2025

• The result? The euro is back in style and traders are chasing one breakout after another. Today’s highest point — $1.1572 — was last seen back in November 2021 when the world was moving out of Covid lockdowns and high US interest rates ballooned the dollar’s valuation.
• Can’t say the same now — interest rates in the US are fairly elevated and the greenback has lost more than 13% from its valuation against the euro since mid-January.