Euro Plummets as ECB's Lagarde Rumored to Exit Early

The euro took a hit on Wednesday following a Financial Times report suggesting European Central Bank President Christine Lagarde might resign early. This speculation comes alongside Emmanuel Macron potentially having a say in her successor ahead of the French presidential election, though the ECB denies any decision has been made.

Meanwhile, the dollar surged, driven by stronger-than-expected U.S. economic data. The Commerce Department revealed a rise in non-defense capital goods orders, while the Federal Reserve reported a boost in manufacturing output, signaling potential growth in the sector.

Investors are eagerly awaiting the Federal Reserve's meeting minutes for clues about future interest rates and AI's economic impact. Additionally, geopolitical concerns remain in focus, with U.S.-Iran negotiations and Japan's financial commitments under discussion.