Following Trump’s tariff announcement, the euro rose to its highest level against the US dollar in nearly five months. The dollar weakened against the majority of other currencies as bond yields from the US government declined amid a worsening economic forecast. Reciprocal tariffs also had a negative impact on global markets.

Source: https://www.euronews.com/business/2025/04/03/euro-surges-toward-five-month-high-after-trump-liberation-day-speech