Dow futures up 450 points; European stocks set for strong start

For more than a decade, the flow of transatlantic capital moved in one direction, powering the ascent of an unstoppable dollar and leaving the euro far behind. Now, the biggest investors say the tide may be turning.

With the euro charting a course for its best year in two decades and asset managers like Amundi SA flipping from bear to bull, Europe’s currency is undergoing a resurgence that’s rarely been seen at any point since its creation in 1999.

As a result, Donald Trump’s determination to overhaul global trade has given European policymakers a chance at what they’ve long wanted — a currency seen as backing a strong, stable economic power, rather than a fractured, crisis-prone continent.