Avoiding the US dollar and moving towards the euro, sweeping through the foreign exchange options market.

Faced with the unpredictable US policies and the risks brought by the global trade war, traders are increasingly avoiding the US dollar, and the euro is playing a more important role in the global foreign exchange options market. Comparing data from US custody trusts and clearing houses from the first five months of this year to the last five months of 2024, it can be seen that about 15% to 30% of contracts linked to major currencies have shifted to euros. Additionally, there are signs that the euro is being used as a safe haven asset and for betting on large fluctuations.