Euro strengthens relative to dollar following three consecutive losses
Here's the Rewritten Article:
As the clock struck 6:01 PM (Lisbon time) today, the euro was trading a tad higher against the dollar, standing at $1.1319 compared to $1.1291 at the same hour the previous week. The greenback wasn't the only currency affected; the euro also gained a bit against the pound but stumbled slightly against the yen.
The European Central Bank (ECB) fixed the euro's reference exchange rate at $1.1343.
In the United States, the unemployment rate held steady at 4.2% in April, the same as in March. However, there was a positive employment increase of 177,000 jobs, as reported by the Bureau of Labor Statistics (BLS) today. This job growth was marginally higher than the 12-month average and was primarily driven by hiring in the health, financial services, social assistance, transportation, and warehousing sectors.
Since January, there has been a net loss of 26,000 federal jobs, excluding those still receiving incentive payments for retirement.
The exchange rates today versus Friday were as follows:
- Euro/dollar: 1.1319 → 1.1291
- Euro/pound: 0.85220 → 0.85015
- Euro/yen: 163.78 → 164.16
- Dollar/yen: 144.68 → 145.39
Moreover, the 4th edition of IAPMEI’s StartUP Voucher was launched in May 2025, with a €5 million budget aimed at nurturing youth entrepreneurship and early-stage innovation in Portugal. This strategic initiative targets young graduates up to age 29, particularly those with innovative ideas at the conception stage. The €5 million allocation signifies a commitment to expanding support for startups, providing crucial seed funding to help transform concepts into successful businesses.
Past editions of the StartUP Voucher have supported ventures like BPatch, co-founded by Carla Martins Lopes, which received funding and validation through the program. This recent launch aligns with ongoing efforts to bolster Portugal’s startup ecosystem, as evidenced by events like BUZZ Impulse (attended by Startup Portugal representatives in April 2025) and funding calls for digital startups.
Interestingly, the timing of the voucher’s launch coincides with increased scrutiny of business transparency in Portugal, as demonstrated by recent debates centered on service disclosures by firms like Spinumviva.
[1] Young graduates up to age 29 are the target demographic for the 4th edition of the StartUP Voucher.[2] Portugal has seen increased scrutiny of business transparency, as evidenced by recent debates around the practice of firms like Spinumviva.[3] Startup Portugal representatives attended the BUZZ Impulse entrepreneurship event in April 2025.[4] Portugal has issued funding calls specifically for digital startups.[5] The StartUP Voucher has supported projects like BPatch, co-founded by Carla Martins Lopes, which secured grants and validation through the program.
- The 4th edition of IAPMEI’s StartUP Voucher, aimed at nurturing youth entrepreneurship, has a €5 million budget to support young graduates up to age 29 in Portugal.
- Unlike some firms in Portugal, like Spinumviva, the StartUP Voucher prioritizes business transparency, as demonstrated by its support for projects like BPatch.
- In alignment with the StartUP Voucher's launch, Startup Portugal representatives attended the BUZZ Impulse entrepreneurship event in April 2025, highlighting ongoing efforts to boost Portugal’s startup ecosystem.
- To attract investors and drive growth in the digital sector, Portugal has issued funding calls specifically for digital startups, welcoming opportunities for euro investments.
