The US dollar rose significantly and reached an index level of 98.8, while the European currency came under pressure against the greenback. The euro dropped nearly 20 points and last traded at 1.1685 EUR/USD – meaning that approximately 98 US dollars converted to euros is just under 85 euros. This development indicates a clear appreciation of the US dollar in the forex market.

According to NS3, the common currency steadily declined, while the DXY index rose by more than ten points. For investors and forex traders, this shift is significant: the strength of the US dollar against the euro suggests increased demand for the American currency and could influence various trading strategies. At the same time, the euro weakened noticeably, a trend that reflects the economic differences between the Eurozone and the US.