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Why do currencies rise and fall?
A currency has no absolute value — only a value relative to another currency, which is constantly being re-judged.
You can't ask whether the euro is 'doing well' in isolation — only whether it's doing well relative to the dollar, the pound, or some other currency. Every exchange rate is a relative judgement, updated continuously as new information arrives.
The biggest driver is usually interest rate differentials: capital tends to flow toward whichever currency offers a better return, adjusted for risk. Relative growth, inflation, and political stability all feed into that same judgement.
This is why a currency can 'weaken' even if nothing has gone wrong domestically — if the other side of the pair simply improved faster, the relative judgement shifts against you regardless.
See it in the data
How dollar strength currently relates to an emerging-market currency, gold, equities, and more — kept separate from historical context.
See the Dollar ↔ Gold Lens