President Donald Trump's tariff regime has sparked volatility in U.S. assets - European officials have no secret hope that the euro will seize confidence in the dollar.

this Dollar It is the most common reserve currency in the world, accounting for nearly 60% of global foreign exchange reserves and plays an important role in asset trading like this Oil and gold. It also acts as a nail for currency Hong Kong dollar and Saudi Riyal.

In second place, behind Green Guard, is EURaccounting for 20% of international foreign exchange reserves.

Since the beginning of the year, the U.S. dollar index measures the green index targeting a basket of large competitors, down more than 8%. ECB President Christine Lagarde said this week that the changing geopolitical landscape that drives these moves provides European policymakers with the opportunity to improve the euro.

"Multiple-lateral cooperation will be replaced by zero-sum bilateral forces' work," she said in a speech at the Herti School in Berlin on Monday. "The cornerstone of the system and even uncertainty: the main role of the dollar."

This could "open the door to the euro as a bigger international role," she said.

Lagarde pointed out in his speech that closing the gap is “far from a guarantee”, while also showing that European currencies can “win” greater global influence through the right combination of policies.

“First of all, Europe must ensure that it has a solid and credible geopolitical foundation by firmly committed to open trade and based on security capabilities,” she said.

"Secondly, we must strengthen our economic base to make Europe the main destination for global capital, which is achieved by a deeper liquid capital market. Thirdly, we must strengthen our legal foundations by defending the rule of law and through political political solidarity so that we can resist external pressure."

Lagarde added that the euro with an elevated reserve currency situation would bring a lot of benefits to Europe, including lower regional government borrowing costs, insulation measures for exchange rate fluctuations, and protection from Europe from sanctions or other mandatory measures. ”

"In short, this will allow Europe to have better control over its own destiny," Lagarde added.

She isn't the only ECB official touting the possibility of the euro as confidence in the US swing. Last week, Isabel Schnabel, a member of the Executive Committee of the Central Bank, said the eurozone could become a safe haven because Trump's tariff policy holds, which gave the region "a historic opportunity to promote the international role of Europe."

Market observers who spoke with CNBC were allocated because the euro's potential has captured some share of the global FX Holdings.

Nomura's chief European economist George Buckley appeared on CNBC's "Early European Version" and said he could see the euro area's upside in the euro as investors want to diversify from the green backpack.

Asked if he agrees with Lagarde’s assessment of currency potential, Barkley replied: “Of course to some extent.”

"The dollar is still the largest reserve currency in the world...the euro is still the second far away, but with everything that happens in the United States, the euro is very motivated." "I think there is certainly more interest."

Barkley said the advice he saw was that in the current environment, investors may want to allocate their funds to assets outside the dollar.

"If they want to switch out from the dollar, then the euro is an obvious choice," he told CNBC. "It's a huge trading group and the euro is clearly benefiting from it. We think the euro may rise to around $1.20 by the end of this year."

On Friday morning, the euro was trading at about $1.13. Since the beginning of the year, the currency has risen by more than 9% against the U.S. dollar - stocks that rise to $1.20 will add an additional 6% of the extra price.

Aaron Hill, chief market analyst at FP Markets, is optimistic about Buckley's outlook for the euro, telling CNBC that the dollar's dominance "still be strong."

“The euro faces significant obstacles, supported by the EU’s large economic weight,” he said. “Political divisions between member states and reliance on the U.S. security framework limit their global influence.”

Hill added that the euro restrictions are unlikely to evaporate anytime soon.

"While the rising U.S. debt and the global coalition worth scrutinizing, the euro lacks cohesion and reach in the near term," he told CNBC. "For now, green domination lasts and has not wavered."

On Tuesday, John Plassard, a senior investment expert at Mirabaud Group, told CNBC's "early European version" that there is currently "no competition" as the US dollar still accounts for nearly 60% of global foreign exchange reserves.