On Wednesday, the EUR/USD pair saw a bullish surge after the Trump administration announced tariffs that turned out to be less severe than many investors had anticipated, given President Donald Trump's barrage of tariff threats over the last 72 days. While the specifics of these tariff proposals are intricate, US consumers should prepare for a uniform 10% tariff on all imports, a hefty 25% tariff on all cars and car parts, and varying' reciprocal” tariffs imposed at different rates depending on the country.

A mixed response of Trump's tariffs saw gold reach a record high, EUR/USD and GBP/USD move their separate ways and Wall Street futures suffer their worst hour's trade since October 2022. It is now down to how world leaders respond as to how their domestic markets will perform from here.

EUR/USD lurched higher late Wednesday, tapping its highest bids in ten consecutive trading days after market sentiment reacted positively to better-than-expected tariff levels from the Trump administration. US President Donald Trump vowed for a 10% across-the-board tariff on all imports into the US, giving investors what they initially thought they wanted.

The American currency is losing ground despite rising Treasury yields.

EUR/USD extended its upward trajectory on Wednesday, rising toward the upper end of its recent range, and was last seen near the 1.0900 zone following the European session. The pair posted a solid gain for the day as the market held on to risk-positive sentiment, with technical indicators backing a bullish short-term view despite mixed signals from oscillators.

The US dollar continues to see a lot of noisy movement on Wednesday, as the markets brace for the tariffs that people will have to sort through at the end of the session.