Dollar rises on Trump tariff threats, euro stays near 2-year low
The dollar firmed on Monday as fresh threats of tariffs from U.S. President Donald Trump dented risk sentiment, casting a shadow over commodities markets and putting pressure on the euro and the Australian and Canadian dollars.
Trump said he will announce new 25% tariffs on all steel and aluminium imports into the U.S. later on Monday, as well as reciprocal tariffs on Tuesday or Wednesday that will be applied to all countries and matching the tariff rates levied by each nation.
The latest salvo adds to jitters over a global trade war, with China's retaliatory duties on U.S. goods due to take effect on Monday. Market moves were muted on Monday, with investors still hesitant in placing major bets.
The euro was 0.1% lower at $1.0317, staying near the more than two-year low of $1.0125 it touched last week as investors braced for tariffs that Trump has repeatedly threatened against Europe.
The Australian dollar fell 0.1% to $0.62705, hovering near the five-year low it touched last week. The Canadian dollar weakened nearly 0.3% as Canada is the largest supplier of aluminium metal to the United States.
The dollar index , which measures the U.S. currency against six other units, was at 108.23. The New Zealand dollar was flat at $0.5656, but not far from the two-year low touched last week.
The Japanese yen weakened more than 0.3% to 151.93 per dollar, but remained close to the one-month high it touched on Friday on growing expectations of the Bank of Japan hiking interest rates this year.
China's yuan hit its lowest in three weeks against the dollar, weakening past a key threshold as trade tensions weighed.
The onshore yuan fell to 7.3082 to the dollar, breaching the psychologically important 7.3 per dollar level for first time since January 20. Reuters
The dollar firmed on Monday as fresh threats of tariffs from U.S. President Donald Trump dented risk sentiment, casting a shadow over commodities markets and putting pressure on the euro and the Australian and Canadian dollars.
Trump said he will announce new 25% tariffs on all steel and aluminium imports into the U.S. later on Monday, as well as reciprocal tariffs on Tuesday or Wednesday that will be applied to all countries and matching the tariff rates levied by each nation.
The latest salvo adds to jitters over a global trade war, with China's retaliatory duties on U.S. goods due to take effect on Monday. Market moves were muted on Monday, with investors still hesitant in placing major bets.
The euro was 0.1% lower at $1.0317, staying near the more than two-year low of $1.0125 it touched last week as investors braced for tariffs that Trump has repeatedly threatened against Europe.
The Australian dollar fell 0.1% to $0.62705, hovering near the five-year low it touched last week. The Canadian dollar weakened nearly 0.3% as Canada is the largest supplier of aluminium metal to the United States.
The dollar index , which measures the U.S. currency against six other units, was at 108.23. The New Zealand dollar was flat at $0.5656, but not far from the two-year low touched last week.
The Japanese yen weakened more than 0.3% to 151.93 per dollar, but remained close to the one-month high it touched on Friday on growing expectations of the Bank of Japan hiking interest rates this year.
China's yuan hit its lowest in three weeks against the dollar, weakening past a key threshold as trade tensions weighed.
The onshore yuan fell to 7.3082 to the dollar, breaching the psychologically important 7.3 per dollar level for first time since January 20. Reuters
The dollar firmed on Monday as fresh threats of tariffs from U.S. President Donald Trump dented risk sentiment, casting a shadow over commodities markets and putting pressure on the euro and the Australian and Canadian dollars.
Trump said he will announce new 25% tariffs on all steel and aluminium imports into the U.S. later on Monday, as well as reciprocal tariffs on Tuesday or Wednesday that will be applied to all countries and matching the tariff rates levied by each nation.
The latest salvo adds to jitters over a global trade war, with China's retaliatory duties on U.S. goods due to take effect on Monday. Market moves were muted on Monday, with investors still hesitant in placing major bets.
The euro was 0.1% lower at $1.0317, staying near the more than two-year low of $1.0125 it touched last week as investors braced for tariffs that Trump has repeatedly threatened against Europe.
The Australian dollar fell 0.1% to $0.62705, hovering near the five-year low it touched last week. The Canadian dollar weakened nearly 0.3% as Canada is the largest supplier of aluminium metal to the United States.
The dollar index , which measures the U.S. currency against six other units, was at 108.23. The New Zealand dollar was flat at $0.5656, but not far from the two-year low touched last week.
The Japanese yen weakened more than 0.3% to 151.93 per dollar, but remained close to the one-month high it touched on Friday on growing expectations of the Bank of Japan hiking interest rates this year.
China's yuan hit its lowest in three weeks against the dollar, weakening past a key threshold as trade tensions weighed.
The onshore yuan fell to 7.3082 to the dollar, breaching the psychologically important 7.3 per dollar level for first time since January 20. Reuters
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Dollar rises on Trump tariff threats, euro stays near 2-year low
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