36 minutes ago
Dollar gains on market optimism over Trump's tariff policy
Reuters reports that the dollar strengthened on strong US services data and investors’ cautious optimism over US import tariffs.
Donald Trump stated not all of the discussed duties would be imposed on April 2 and some countries may get breaks. The comments boosted the US currency and helped soothe market concerns about the country’s economic growth.
According to Reuters, the dollar jumped 0.9%, exceeding 150 yen, and then reached a three-week high of 150.92 yen. Additionally, strong services PMI data provided by S&P Global pushed US bond yields up.
The news agency reports that the dollar index posted a fourth consecutive session of growth. However, further dynamics of the index is unclear due to Trump's statements about the imminent imposition of tariffs on automobile imports, the market implications of trade duties, and concerns about the growth of the US GDP.
Recommended
UK economy contracts for second consecutive month
Just now
Investors redirect capital from US to Japan amid trade tensions — Pimco
29 minutes ago
Italy plans to exit EU budget deficit procedure ahead of schedule
45 minutes ago
Higher unemployment in Canada fuels expectations of rate cuts
49 minutes ago
Global foreign exchange reserves in dollars increased in Q1 — Standard Chartered
1 hour ago
Top news
1 hour ago
1 hour ago
1 hour ago
Today at 8:36 AM