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The euro rose 0.5% to $1.0546, its highest since December 10, as the European Union proposed extending 150 billion euros in loans to boost defense spending. The currency has rebounded nearly 4% from a two-year low a month earlier.
EU defense borrowing lifts the euro and weakens the dollar, which can support dollar-priced grain and meal exports through currency effects.
bloomberg.comVassilis Karamanis, Naomi TajitsuMar 4, 2025After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% over 20.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
The euro rose 0.5% to $1.0546 on European defense spending and EU loan plans, adding to the early-week rally.
EU defense spending proposals lifted the euro on March 4, adding to the dollar's decline.
