EUR/USD Falls 0.8% as German DAX Drops on US Tariff Concerns

EUR/USD declined approximately 0.8% to 1.0820 as European equities closed mixed, with Germany's DAX leading losses at -1.09% amid escalating trade tensions. The euro weakened as concerns mount over potential US tariffs, with the EU preparing countermeasures if no agreement is reached by August 1. France's CAC also fell 0.69%, while UK's FTSE 100 managed a marginal 0.12% gain. The trade uncertainty particularly impacted German export-oriented companies, pressuring the euro against major currencies. Technical indicators suggest EUR/USD faces immediate support at 1.0800, with resistance at 1.0850. The heightened trade tensions could continue weighing on the euro in the near term, especially if diplomatic efforts fail to resolve the tariff dispute before the deadline.