EURUSD Tumbles Amid Dollar Strength and Geopolitical Jitters

The EURUSD pair declined by 0.13% on July 24, 2026, reaching 1.1377 due to a strong dollar amid rising Treasury yields and geopolitical uncertainty.

The Eurozone economy showed signs of growth with the S&P Global Flash Eurozone Composite PMI Output Index increasing to 51.9 in July from 50.0 in June, but this positive data was overshadowed by the European Central Bank's (ECB) hawkish tone and its decision to keep interest rates at 2.25%.

The ECB's chief economist Philip Lane described the inflation shock as 'medium-sized,' emphasizing the need for measured policy responses. Despite the positive economic data, the euro weakened against the dollar due to safe-haven flows and rising yields, which support the US currency.