The euro rose in European trade on Friday on track for the second profit in a row against the US dollar, hitting a three-year high and on track for the third weekly profit in a row.

It comes after the EU suspended retaliatory tariffs on US products for 90 days after a similar decision by President Donald Trump.

The Price

The EUR/USD price rose 1.65% today to $1.1384, the highest since February 2022, with a session-low at $1.1187.

The euro rallied 2.3% on Thursday, marking the biggest profit since December 3, 2015 as the US-EU trade war takes a breather.

Weekly Trades

Euro is on track for an excellent 3.85% profit against the dollar this week, which would mark the third weekly profit in a row.

Retaliatory Tariff Pause

The European Commission paused the first stage of retaliatory tariffs on US products for 90 days after a similar decision by President Donald Trump, in a step aimed at opening the door for conversation.

European Commission President Ursula von der Leyen said the EU wants to give negotiations a real chance but maintained their capability of activating counter measures if talks failed to produce results.

Der Leyen said the EU offered the US zero for zero tariff deal to avoid a trade war.

European Economy Stimulus

According to sources, the EU is working on a package of emergency measures to boost parts of the economy that were particularly hit by the threat of US tariffs.

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