The euro has been changing hands around $1.166, not far from a four-year high $1.18 on July 1, as investors weigh ECB policy, economic data, and trade developments. The ECB, which has already cut rates more than the Fed, now signaled a pause, with policymakers stressing Eurozone labor market strength. Also, German business morale hit a 15-month high in August, echoing recent upbeat activity data and reducing pressure for further cuts this year. In contrast, Fed Chair Jerome Powell hinted at a September US rate cut, highlighting policy divergence. Meanwhile, details of the EU-US deal showed most European goods facing 15% tariffs, but autos, pharmaceuticals, and chips may be spared from tougher US levies.