European companies are sounding the alarm over the strong euro, as the single currency’s surge against the dollar this year opens up a new threat to exporters already contending with US President Donald Trump’s tariffs.
German software group SAP, carmaker Porsche, brewer Heineken and French industrial giant Schneider Electric are among the companies to warn investors of a potential hit after the euro climbed more than 9 per cent to a three-year high.
The euro’s rally, which puts it on track for its best year against the dollar since 2017, undermines the competitiveness of European exporters to the US, where there are already signs that consumers are reining in spending because of the uncertainty created by Trump’s trade war.
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