The dollar traded mixed against its Group-of-10 peers while the yen surged in early Asian trading after President Donald Trump's sweeping trade tariffs sparked a flight to haven assets on fears it will impact the global economy.
USD/JPY fell 0.8% to 148.02. Treasury futures advanced while US equity futures contracts slumped.
Trump said he will apply a minimum 10% tariff on all exporters to the US and slap additional duties on around 60 nations with the largest trade imbalances with the US. That includes substantially higher rates on some of the country's biggest trading partners, such as China — which now faces a 54% total tariff — the European Union and Vietnam.
"We are seeing a push to haven trades," said Nick Twidale, chief analyst at AT Global Markets in Sydney. "Those tariffs were to the higher end of expectations and traders now have real concern for global growth moving forward".
"I am expecting to see more volatility through the day but overall I think these trends will extend given the ‘hardness' of the tariff announcements this morning".
AUD/USD fell as much as 1.2% to 0.6226 and NZD/USD dropped 1.1% to 0.5682.
Australia's Prime Minister Anthony Albanese described the 10% tariff on Australian goods as a "poor decision" and said he will not respond with reciprocal levies.
USD/CNH rose as much as 0.7% to 7.3484, the highest since Feb. 3.
USD/CHF slipped 0.4% lower to 0.8783.
EUR/USD up 0.1% to 1.0866.
USD/CAD little changed at 1.4242.
Souce : Bloomberg
The US dollar held steady early in the Asian session after the PPI data fell 0.1% in August, reinforcing expectations that the Fed would cut interest rates next week. The Dollar Index edged up to 97.8...
The US dollar held steady on Wednesday (September 10th) ahead of US inflation data this week that could help shape the Federal Reserve's policy outlook, while tense geopolitical conditions supported c...
The dollar index held around 97.8 on Wednesday after firming in the prior session, as investors awaited key inflation reports that could influence the Federal Reserve's policy stance. The producer pr...
A Bloomberg gauge of the dollar rose late in New York trading alongside Treasury yields as investors look to the release of CPI data this week to gauge the Fed's rate-cutting path. Earlier, the yen ra...
The dollar hit a seven-week low on Tuesday as investors braced for revised US data that could indicate the labor market is in worse shape than initially estimated, strengthening the likelihood of a de...
The United States was rocked by another political tragedy after Charlie Kirk, a conservative figure and close supporter of Donald Trump, was shot dead while attending an event at Utah Valley University. This incident immediately sparked national...
US stocks were in the green on Thursday, with the S&P 500 adding 0.3% to hit new highs, while the Nasdaq was up 0.3% and the Dow Jones rose almost 200 points as investors digested the latest US CPI report. The data came largely in line with...
Gold trimmed losses after US inflation and labor market data strengthened bets that the Federal Reserve will cut interest rates next week. Consumer prices excluding food and energy rose 3.1% last month from a year earlier, in line with analysts'...
The United States (US) Bureau of Labor Statistics (BLS) will publish the 2025 preliminary benchmark revision to the Establishment Survey Data on...
The Federal Reserve is likely to start a series of interest-rate cuts next week and keep going through the end of the year, traders bet on Wednesday...
Producer inflation in the United States, as measured by the change in the Producer Price Index (PPI), fell to 2.6% annually in August from 3.3% in...
The US Bureau of Labor Statistics reported on Tuesday that the preliminary estimate of the Current Employment Statistics (CES) national benchmark...