---
title: The Euro suffered its steepest one-day drop against the dollar since May on Monday, as Germany and France voiced fears that the long-awaited EU-US trade deal would hurt the European economy.
description: "The single currency was down more than 1 per cent against the dollar and weakened by 0.8 per cent against the pound, following the announcement on Sunday that the US would impose 15 per cent tariffs on most imports from the EU. \n\nThe agreement, hailed by European Commission president Ursula von der Leyen as “the biggest trade deal ever” and covering nearly 44 per cent of global GDP, averted a possible transatlantic trade war. \n\nBut German chancellor Friedrich Merz said on Monday that the tariffs would cause “considerable damage” to his country’s economy, Europe and the US itself.\n\n“Not only will there be a higher inflation rate, but it will also affect transatlantic trade overall,” he said. “This result cannot satisfy us. But it was the best result achievable in a given situation.”\n\nFrench Prime Minister François Bayrou said the trade deal marked a “dark day”, adding that the EU had “resigned itself into submission”.\n\nSource: FT"
---

[Syz The Moment](https://blog.syzgroup.com/syz-the-moment)

# [The Euro suffered its steepest one-day drop against the dollar since May on Monday, as Germany and France voiced fears that the long-awaited EU-US trade deal would hurt the European economy.](https://blog.syzgroup.com/syz-the-moment/the-euro-suffered-its-steepest-one-day-drop-against-the-dollar-since-may-on-monday-as-germany-and-france-voiced-fears-that-the-long-awaited-eu-us-1753776669304)

 Written by [Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/syz-the-moment/author/charles-henry-monchau) | Jul 29, 2025, 8:11:38 AM

[View full post](https://blog.syzgroup.com/syz-the-moment/the-euro-suffered-its-steepest-one-day-drop-against-the-dollar-since-may-on-monday-as-germany-and-france-voiced-fears-that-the-long-awaited-eu-us-1753776669304)

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