It Will Take More Than Trump to Make the Euro Shine
Anxiety over the dollar has boosted the single currency’s profile, but Europe still has internal differences to resolve.
Illustration: Myriam Wares for Bloomberg Markets
Europe’s Policymakers have confronted a lot of surprises since Donald Trump’s return to the White House. One of the biggest: the prospect of the euro rivaling the mighty US dollar.
As investors reel from the trade jolts emanating from Washington, the value of the euro has surged. A group of emboldened policymakers is now cheerleading for the single currency to become a serious alternative to the greenback as a cornerstone of the global financial system. In May, Christine Lagarde, president of the European Central Bank, declared that uncertainties about the dollar’s role “create the opening for a ‘global euro moment.’ ”