The upward trajectory of the EURUSD continues unabated in trading on Tuesday (March 11, 2025), breaking through the 1.09000 mark. This currency pair has been on a rapid rise since last week following Germany’s announcement of plans to implement fiscal reforms likely to stimulate economic growth.
As the largest economy in Europe, a faster pace of growth in Germany could have a ripple effect on other countries across the continent, which positively influences the sentiment towards EURUSD.
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During the European session today, EURUSD reached a peak of 1.09211, climbing by 855 points (85.5 pips) compared to Monday’s closing figure, marking the highest level since November 6, 2024. This month alone, EURUSD has surged by 546 pips.
The significant rise in EURUSD is also attributed to concerns about the U.S. economy possibly contracting in the first quarter of 2025, leading to a weakening of the dollar.
With the U.S. dollar under pressure and fears of an economic slowdown in the U.S., Gold prices have increased by over $23 or 230 pips, reaching $2,912.41 per troy ounce today.
