The euro slipped toward $1.0289, nearing a two-year low hit earlier this year, amid concerns over US trade policies and Eurozone inflation data. CNN reported that President-elect Donald Trump is considering declaring a national economic emergency to justify sweeping tariffs on allies and adversaries under the International Economic Emergency Powers Act. Earlier reports suggested milder measures, but Trump dismissed them, signaling no scaling back of his tariff plans. In the Eurozone, inflation rose to 2.4% in December from 2.2% in November, but analysts believe this won’t prevent the European Central Bank from cutting rates by 25 basis points this month. Markets are pricing a 96% likelihood of this cut, while expectations for further easing in 2025 have been scaled back to three quarter-point cuts, with a 70% chance of a fourth.