The US Dollar Index (DXY), which tracks the performance of the US Dollar against a basket of six major currencies, weakened slightly and traded around 107.30 at the time of writing on Monday (27/1) despite some safe-haven inflows earlier during the Asian session. Markets were spooked after US President Donald Trump threatened to impose 50% tariffs on Colombian imports after the country refused to accept immigrants deported from the US over the weekend. Traders are now reassessing their earlier dovish stance on tariffs as it seems clear that tariffs will be used more as a leverage tool. On...
The pound (GBP) recovered all its intraday losses and rose above 1.2500 against the US dollar (USD) in the North American session on Monday (1/27). The GBP/USD pair bounced back as the US dollar weakened after investors digested concerns over US President Donald Trump imposing 25% tariffs on Colombia overnight. Over the weekend, President Trump threatened to impose tariffs on its South American trading partner for not allowing military flights carrying illegal immigrants into their territory. Trump later delayed the proposed tariffs after Colombia accepted his terms. The US Dollar Index...
Oil prices fell on Monday after the U.S. dropped an initial threat of sanctions against Colombia, easing immediate concerns about oil supply disruptions, although a show of force by U.S. President Donald Trump kept markets on edge. Brent crude was down 60 cents, or 0.8%, at $77.90 a barrel by 1300 GMT. U.S. West Texas Intermediate crude was down 57 cents, or 0.8%, at $74.09. Both benchmarks fluctuated between modest gains and losses in early trading. The U.S. quickly dropped plans to impose sanctions and tariffs on Colombia after the South American country agreed to take in migrants...