U.S. dollar slide continues, euro hits 16-year high

Euro jumps to highest level since 2009 as U.S. dollar sinks

Lola Evans
08 Mar 2025, 02:33 GMT+10

U.S. dollar slide continues, euro hits 16-year high

The euro strengthened against the U.S. dollar, closing at 1.0843, marking an increase of 0.55 percent.
The British pound strengthened against the U.S. dollar, reaching 1.2922, up by 0.36 percent.
he U.S. dollar saw a marginal rise against the Japanese yen, ending at 148.00, up by 0.02 percent.

NEW YORK, New York - The U.S. dollar continued to come under pressure Friday with President Donald Trump's flip flops on trade tariffs, and an improving employment report taking a toll.

The euro took center-stage, achieving its most substantial weekly gain since 2009, driven by investor optimism regarding Germany's fiscal stimulus plans.

Following are the latest quotes for Friday's trading on global forex markets:

Major Currency Pairs

EUR/USD (Euro/US Dollar): The euro strengthened against the U.S. dollar, closing at 1.0843, marking an increase of 0.55 percent. This surge is attributed to positive sentiment surrounding Germany's anticipated economic recovery.
USD/JPY (US Dollar/Japanese Yen): The U.S. dollar saw a marginal rise against the Japanese yen, ending at 148.00, up by 0.02 percent.
USD/CAD (US Dollar/Canadian Dollar): The U.S. dollar appreciated against the Canadian dollar, closing at 1.4373, an increase of 0.57 percent.
GBP/USD (British Pound/US Dollar): The British pound strengthened against the U.S. dollar, reaching 1.2922, up by 0.36 percent.
USD/CHF (US Dollar/Swiss Franc): The U.S. dollar depreciated against the Swiss franc, ending at 0.8797, a decrease of 0.42 percent.
AUD/USD (Australian Dollar/US Dollar): The Australian dollar weakened against the American dollar, closing at 0.6308, down by 0.37 percent.
NZD/USD (New Zealand Dollar/US Dollar): The New Zealand dollar declined against the U.S. dollar, ending at 0.5709, a decrease of 0.43 percent.

U.S. Economic Indicators

The U.S. dollar's recent struggles are linked to concerns over economic growth and the impact of trade tariffs. Investors are closely monitoring upcoming US nonfarm payrolls data, with predictions of 160,000 new jobs in February and steady unemployment at 4.0 percent.

Additionally, the latest U.S. jobs report showed lower-than-expected job additions, contributing to the euro's strength.

Outlook

Analysts anticipate continued volatility in the forex market as investors assess economic data and geopolitical developments. The euro's recent surge reflects growing confidence in the Eurozone's economic prospects, while the U.S. dollar's performance may hinge on forthcoming economic indicators and trade policy clarity.

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