The euro hit a fresh year-to-date high versus the greenback amid renewed bets that a ramp-up in European defence spending will provide a much-needed boost to the region’s economy.
The common currency rose 0.5% to US$1.0546, its highest since Dec. 10, as the European Union said it will propose extending €150 billion (US$158 billion) in loans to boost the continent’s defense spending. Efforts to increase defense capabilities on the continent has helped the euro to bounce nearly 4% from a two-year low hit just a month ago.
---
Vassilis Karamanis and Naomi Tajitsu, Bloomberg News
©2025 Bloomberg L.P.
