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The dollar weakened against major currencies on Friday as the back-and-forth over tariffs shook investor confidence in the greenback as a safe haven, sending it to its lowest in a decade against the Swiss franc and a three-year low versus the euro. China increased its tariffs on U.S. imports to 125% from 84% on Friday, retaliating against U.S. President Donald Trump’s decision to hike duties on Chinese goods to a total of 145% after pausing his latest tariff hikes on most countries. That added to a global selloff that has battered stocks and even once safe-haven U.S. Treasuries – 10-year…
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…
The USD/CAD forecast shows a brighter outlook for the global economy. Trump temporarily lowered reciprocal tariffs on most countries. Market participants are also looking forward to the US consumer inflation report. The USD/CAD forecast shows a brighter outlook for the global economy after Trump paused some reciprocal tariffs. At the same time, Canada and Japan have agreed to cooperate with the Trump administration to maintain calm in the financial markets. As a result, the loonie rebounded sharply. However, the trade war between the US and China rages on, keeping a lid on risk appetite. –Are you interested to learn more…
The U.S. dollar rebounded against safe-haven currencies including the yen and Swiss franc after President Donald Trump announced a 90-day pause on many new tariffs on trading partners but hiked duties on Chinese goods, escalating a confrontation.The dollar climbed 0.50% to 0.85160 against the Swiss franc and strengthened 0.22% to 146.665 against the yen. Trump said on Wednesday he had authorized a 90-day pause in “reciprocal” 10% tariffs but was also raising the tariff rate for China to 125%, effective immediately.The dollar had been weakening against its peers earlier in the session after Trump’s “reciprocal” tariffs on dozens of countries…
The Indian rupee weakened to 86.68 per dollar on Wednesday, down 42 paisa from its previous close amid worries of a growth slowdown in the backdrop of a tariff war, traders said. The 25 basis point rate cut delivered by the Reserve Bank of India added pressure on the rupee.The rupee hit a three week low at 86.71/$1 during the session, and was down 0.5% in the day. The rupee closed at 86.23/$1 on Tuesday, LSEG data showed.Traders expect rupee to continue to be under pressure and “gradual depreciation in foreign exchange might also act as a part shock absorber…
The USD/JPY price analysis shows escalating trade tensions between China and the US. Trump has threatened to impose another 50% tariff on Chinese goods. The BoJ might pause to assess incoming data. The USD/JPY price analysis shows escalating trade tensions between China and the US that is sending traders to the safe-haven yen. Meanwhile, the dollar collapsed on Wednesday as analysts increased the likelihood of a US recession. –Are you interested to learn more about South African forex brokers? Check our detailed guide- The turmoil from last week returned to the markets on Wednesday due to a growing conflict between…
The U.S. dollar weakened against major currencies including the yen and euro, while China’s offshore yuan hit a record low on Tuesday, amid trade disputes sparked by President Donald Trump’s sweeping tariffs that have roiled markets for three days. The Japanese yen and Swiss franc continued to benefit from appetite for safe-havens, however, as investors remain concerned about the potential for a global recession. Markets are bracing for a war of attrition between the U.S. and China. Beijing has refused to bow to what it called “blackmail” and vowed to “fight to the end” after Trump threatened to ratchet up…
The Indian rupee fell to a more than two-week low on Tuesday, weighed down by a weaker yuan and corporate hedging demand, while forward premiums eased on rising U.S. bond yields. The rupee closed at 86.2650 against the U.S. dollar, down 0.5% on the day. The currency hit a low of 86.29 during the session, its lowest since March 21. The onshore Chinese yuan declined 0.4% to 7.33 on Tuesday after the country’s central bank set the midpoint rate , around which the yuan is allowed to trade in a 2% band, at the weakest level since September 2023.Asian currencies…
The USD/CAD price analysis shows increasing hopes of tariff negotiations. Canada was among the few countries that escaped reciprocal tariffs. The Eurozone and China are ready to impose counter-tariffs. The USD/CAD price analysis shows a rebound in the Canadian dollar amid hopes of tariff negotiations that might lift global economic concerns. Meanwhile, the dollar remained fragile due to a recent drop in Treasury yields due to recession worries. –Are you interested to learn more about South African forex brokers? Check our detailed guide- Canada was among the few countries that escaped reciprocal tariffs on Wednesday. As a result, the Canadian…
The Indian rupee logged its steepest one-day decline in nearly three months on Monday as concerns over U.S. President Donald Trump’s sweeping tariff plans jolted global financial markets, dragging Asian currencies and stocks lower. The rupee closed at 85.8350 per U.S. dollar, down 0.7% on the day, its worst single-day fall since January 13. India’s benchmark equity indexes, the BSE Sensex and Nifty 50, ended about 3% lower each, their steepest one-day fall since June last year.The onshore Chinese yuan declined 0.4% to a near four-month low of 7.3181, propelling a slide of as much as 1% in Asian currencies.…