Traders take stock of Trump's new tariffs ahead of US jobs report release

Reuters reports that the dollar is struggling to regain its ground as traders assess the impact of US President Donald Trump's new tariffs. Besides, the market is awaiting the release of a monthly US job report. The data will provide clues about the country’s economic health, as well as the outlook for the Federal Reserve’s (Fed) monetary policy.

The greenback edged down after fluctuating slightly during early trading on Friday. In the prior session, the dollar fell by 2.2% and dropped as low as 145.19 yen for the first time since October 2, the news agency says.

Meanwhile, economists estimate that US nonfarm payrolls increased by 135,000 last month, down from February’s reading of 151,000, Reuters reports. 

Fed Chair Jerome Powell is to deliver a speech on the US economic outlook on April 4. Expectations of monetary easing by the country’s central bank intensified after Trump's announcements to impose a 10% baseline tariff on all imports. Traders forecast a quarter percentage point rate cut in June, July, October and December 2025, the news agency says.