India, Aug. 6 -- The euro strengthened against other major currencies in the European session on Wednesday, as European shares traded higher despite weak factory orders data from Germany and fresh tariff threats from U.S. President Donald Trump on pharma and chips. Some upbeat earnings announcements and expectations of a Fed interest rate cut next month appear to be aiding sentiment.
Investors mood is a bit positive amid hopes the Fed will cut interest rate next month.
The U.S. President has called a pledge of investment totaling $600 billion made in the EU-U.S. trade deal a gift and threatened the EU with 35% blanket tariffs if it fails on the pledge.
Trump also said that tariffs on semiconductor and chip imports would be announced as s...