Euro Emerges as Unlikely Winner From Trump’s Trade Shock

(Bloomberg) -- The euro has become an unlikely winner from US President Donald Trump’s bid to redraw the global trade order.

The currency surged to its highest in six months versus the dollar this week, with its biggest intraday gain since 2015 on Thursday after Trump unveiled tariffs that were more aggressive than expected. Citigroup Inc. strategists revised up their euro targets, while options sentiment over a one-year horizon turned bullish for the first time in four years. 

It marks a shift from just two months ago, when many in the market anticipated a euro slide to parity versus...
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