The euro: two years against four currencies
For a European investor, every holding outside the euro carries a currency bet. This report shows how the euro has moved against the dollar, the franc, the pound and the yen, how far each rate has travelled within its two-year range and how volatile each pair has been.
Edition of 11 October 2026 · data up to 9 Oct 2026 · General Assets Research Group
Key findings
- 01
One euro bought 1.1206 US dollars, 0.9313 Swiss francs, 0.8476 pounds and 177.34 yen on 9 Oct 2026 (ECB reference rates).
- 02
Over twelve months the euro lost against the US dollar and pound sterling; was little changed against the Swiss franc and Japanese yen: USD −3.5%, CHF +0.0%, GBP −2.4%, JPY −0.0%.
- 03
Over the past month: USD −3.8%, CHF −1.0%, GBP −1.3%, JPY −0.7%. A positive figure means a stronger euro.
- 04
Against the dollar the euro traded between 1.0198 (13 Jan 2025) and 1.1974 (28 Jan 2026) in two years; today it sits at 57% of that range.
- 05
The steadiest pair over the past year was EUR/GBP (annualised volatility 3.3%), the most volatile EUR/JPY (6.6%). The largest one-day move in EUR/USD was +1.28% on 8 Apr 2026.
The euro against four currencies
| Pair | Rate | 1 month | 3 months | 1 year | Volatility, 1 year |
|---|---|---|---|---|---|
| EUR/USDUS dollar | 1.1206 | −3.8% | −2.0% | −3.5% | 5.5% |
| EUR/CHFSwiss franc | 0.9313 | −1.0% | +1.0% | +0.0% | 3.8% |
| EUR/GBPpound sterling | 0.8476 | −1.3% | −0.5% | −2.4% | 3.3% |
| EUR/JPYJapanese yen | 177.34 | −0.7% | −4.2% | −0.0% | 6.6% |
Two years, rebased
Value of one euro in each currency, start of the period = 100. Above 100 = stronger euro.
Where each rate sits in its two-year range
Low to high, with today's rate marked
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