“Further euro strength is likely to be self-defeating,” said Valentin Marinov, a currency strategist at Crédit Agricole, a French bank. Exports were already likely to weaken and become a drag on the eurozone economy because of U.S. tariffs and European government policies that would encourage more imports.

All the reaction after reigning champions England reach the Euro 2025 final with a last-gasp victory over Italy in extra time.

There were tears, distress and disbelief for Italy's players after a 2-1 loss to England after extra time in the Women’s European Championship semifinals.

Chloe Kelly fired home the rebound from her own penalty to net a 119th-minute winner as reigning champions England pulled off a stunning comeback to beat Italy 2-1 after extra time on Tuesday and reach the Women's European Championship final.

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England are living on the brink and survived another near-inevitable elimination all the way to another Women’s European Championship final.

Continued uncertainty surrounding U.S. tariff policy means the European Central Bank can easily justify keeping interest rates on hold this week, but the euro's surprising retreat this month gives the policymakers additional cover to stand pat.

The latest data from the International Monetary Fund show the dollar's share of foreign exchange reserves edged lower to 57.7% in the first quarter from 57.8% in the fourth quarter of 2024. The share of euro holdings rose to 20.1% from 19.8% over the same period, the highest since late 2022.