The strategists who were not swayed by the euro parity theory are still smiling, and Morgan Stanley and other Banks have become the winners.

The surge of the euro has proven that a few strategists opposing the parity theory were correct. Institutions like Morgan Stanley, Crédit Agricole, and Commerzbank previously defended the euro's prospects, against a market view that was very popular just last month, which suggested the euro would soon fall to parity with the dollar. Now, just this week, the euro has risen 4% to 1.08 USD, while a month ago the currency was close to 1.01 USD. "The biggest change this week is that the euro is finally back in the game," said Michael Pfister, a Forex strategist at Commerzbank, "the market is developing in the direction we bet on."

Global Market News.Mar 7 00:20

New York foreign exchange market: Trump's comments on tariffs drive the dollar to its largest intraday increase in three weeks.

A measure of the USD index surged after Trump indicated that the 25% tariffs on Canada and Mexico would take effect on March 4. The Australian Dollar, New Zealand Dollar, and Swedish Krona fell against the USD by more than 1%, underperforming other G-10 currencies. The Bloomberg USD index briefly rose by 0.6%, marking the largest intraday increase since February 3. "Although these remarks have boosted the USD across the board, whether this is part of the US-Canada negotiations remains to be seen," said Valentin Marinov, head of G-10 Forex strategy at French Agriculture Crediting Banks. "We have always believed that the market is overly optimistic regarding the tariffs."

Global Market ReportFeb 28 06:40

New York foreign exchange market: the US dollar rises, the Canadian dollar weakens, and the confusing timing of tariffs shakes the market.

The Bloomberg USD Index fluctuated slightly on Wednesday, as US President Trump hinted at a delay in imposing tariffs, briefly boosting the Mexican Peso and Canadian Dollar. The White House later confirmed March 4 as the deadline, stating that Trump has not yet made a decision on a possible extension. The British Pound reached a two-month high. The Bloomberg USD spot exchange rate index rose 0.1% in the New York market in the afternoon. Note: When will tariffs be imposed and how significant will they be? Trump's flip-flopping and inconsistent statements leave the market confused. "Delaying tariffs is almost as bad as announcing them," said Brown Brothers Harriman & Co.

Global Market ReportFeb 27 05:57

European Banks' Quarterly Beats Confirm Momentum -- Market Talk

WSJFeb 24 16:56

Express News | France's Agricultural Credit Banks plans to increase investment bank bonuses by 5% to 10%.

BreakingsFeb 20 18:34

Caution Is Warranted Amid Surging Italian Banking M&A -- Market Talk

WSJFeb 18 17:57