EUR/USD in 2026: the dollar keeps the upper hand

The EUR/USD closed on 21 October at 1.1234, barely 0.5% above its 2026 low of 1.1177 set on 7 October. The cross started the year at 1.1721 (2 January) and reached its annual high of 1.1974 on 28 January. Since then, the trend has been clearly downward: the euro has lost 4.2% against the dollar year to date.

What this cross measures: the EUR/USD shows how many US dollars are needed to buy one euro. When the cross falls, the dollar appreciates against the euro; European exports become cheaper for American buyers, while imports from the US become more expensive in the euro area.

The ECB euro reference rates are published every working day at around 14:15 CET.

Source: European Central Bank, euro reference exchange rates (21/10/2026 close).