The dollar slumped against major currencies Thursday and oil prices plunged on renewed concerns over US President Donald Trump’s tariffs despite his surprise decision to pause some of the new levies.
The US currency slumped two percent against the euro and hit a decade low against the safe-haven Swiss franc, while Brent North Sea crude and the main US oil contract WTI tumbled more than five percent on fears the tariffs could spark a trade war that hits economies worldwide.
Dollar hits lowest since January 2015 vs Swiss franc, last down 3.31% at 0.8290 franc.
The euro rose 2.27% to 1.11988 against the U.S. dollar, while the greenback fell 2.12% to 144.235 against the Japanese yen.
Crude oil May futures declined 3.66% to $60.07 as investors assessed concerns over trade war amid the shifting US policy. West Texas Intermediate plunged to trade below $60 a barrel, once again sitting near a four-year low.
