Breaking: EUR/USD jumps above 1.12 on reports saying Trump will delay tariffs on auto imports

FXStreet Team FXStreet

Citing sources with direct knowledge of the matter, Bloomberg reported that U.S. President Trump was planning to delay tariffs on European car imports for six months. With the initial market reaction, the EUR/USD pair spiked to a daily high of 1.1223 and was last seen trading at 1.1210, adding 0.06% on a daily basis.

This development seems to be helping the market sentiment improve as well, which allowed the USD/JPY pair to recover its daily losses and advance above 109.50.

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FXStreet

EUR/USD stabilizes near 1.1800 as markets focus on geopolitics

EUR/USD stays defensive around 1.1800 in the second half of the day on Thursday. The US Dollar stabilizes, following the recent decline led by tariff uncertainty, capping the pair's upside. All eyes now remain on the US-Iran nuclear talks after ECB President Lagarde's testimony failed to impress Euro bulls.

GBP/USD holds above 1.3500, struggles to gain traction

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Stellar: Relief bounce fades as bearish undertone persists

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The one thing everyone is on the lookout for is US action of some sort against Iran

The FX market is minestrone soup these days. It is befuddled by conflicting data, rumors and small stories exaggerated out of proportion, and Trump-generated uncertainty.

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