Yesterday delivered major volatility across several currency pairs, with the USD at the center of much of the disruption.
Following Donald Trump’s tariff announcement on Wednesday evening, US equity markets took a sharp downturn, prompting a significant sell-off of the dollar.
The EUR/USD pair was one of the biggest movers, posting its strongest daily gain since 2015, surging as much as 2.3% at one point during the afternoon session. Since then, the market has partially corrected, with some stability returning to the greenback after stronger-than-expected U.S. jobless claims data showed fewer individuals filing for unemployment benefits.
It’s been a fast-paced and event-heavy week for the markets, but it’s not over yet. Eyes now turn to today’s key economic releases, with U.S. non-farm payrolls and average hourly earnings due at 1:30pm (UK time).
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