23 April | Euro | Dollar

ECB Vice‑President: euro could become new global reserve currency

ECB Vice‑President: euro could become new global reserve currency

Luis de Guindos, Vice‑President of the European Central Bank (ECB), believes the euro could one day rival the US dollar as a reserve currency. In his opinion, this will be possible if EU countries unite in favor of integration.

Bloomberg analysts caution that, for now, the euro is not yet a viable substitute for the dollar. The greenback still represents almost 60% of global foreign‑exchange reserves, while the euro accounts for roughly 20%. Even so, recent developments such as US President Donald Trump’s tariffs and his public criticism of the Federal Reserve have weighed on the dollar and helped strengthen Europe’s single currency.

The euro’s recent appreciation reflects growing investor confidence in the economic fundamentals of the bloc's countries, ECB President Christine Lagarde noted. Still, a large‑scale shift from the dollar to the euro remains a distant prospect.

Period: 11.07.2025 Expectation: 920 pips
GBPUSD falls as UK GDP unexpectedly shrinks
Today at 10:42 AM 3
Brent sell
Period: 17.07.2025 Expectation: 150 pips
OPEC's gloomy forecast drags Brent crude prices lower
Today at 08:53 AM 9
Period: 17.07.2025 Expectation: 26000 pips
Institutional investor demand could push ETHUSD to 3,000
Yesterday at 10:38 AM 35
Period: 16.07.2025 Expectation: 2000 pips
USDJPY prepares to retest 148 Level
Yesterday at 08:19 AM 38
Period: 16.07.2025 Expectation: 900 pips
NVIDIA shares rise amid global AI infrastructure investments
09 July 2025 66
Period: 15.07.2025 Expectation: 800 pips
Breaking downtrend could push USDCAD to 1.375
09 July 2025 44
Go to forecasts