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The U.S. dollar was weakening Tuesday, after President Donald Trump’s efforts to buy Greenland intensified with
threats of tariffs on European countries seen stepping up against his push to exert control over the Danish territory.
But some analysts anticipate the geopolitical dispute may wind up being a bigger problem for the euro, even if the currency of the European trading bloc was up against the dollar on Tuesday. “Greenland is a much bigger problem for Europe and the euro in an extreme scenario of a meltdown in the E.U.-U.S. relationship,” said currency analysts at Barclays in a note Tuesday.
