US President Donald Trump’s unpredictable policies offer an opportunity for the euro to challenge the US dollar’s role as the world’s reserve currency, the head of the European Central Bank said.
The euro hit a one-month high against the dollar Monday, after Trump delayed tariffs on the European Union and pushed for lawmakers to pass his sweeping budget bill that would raise the country’s debt. “The ‘Sell America’ theme … is back on show,” an analyst told Reuters.
The turmoil creates “the opening for a “global euro moment,’” ECB chief Christine Lagarde said Monday, urging EU states to cooperate in strengthening the currency’s resilience: “This is a prime opportunity for Europe to take greater control of its own destiny.”
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