The dollar fell strong this Tuesday, March 4 and played minimum of four monthssince the Concern for slowing down and the impact of tariffs on the US economy They weighed more than any possible impulse to the currency derived from the new levies to Canada, China and Mexico.
The 25% tariffs of President Donald Trump about the products of Canada and Mexico entered into force on Tuesday, along with the increase in tariffs on Chinese products to 20%.
In response, China said it will impose additional tariffs of 10%-15% to certain US imports as of March 10. Canada has said that retaliation tariffs on the United States would take effect on Tuesday, and Mexico is expected to do the same.
Dollar: It fell to a minimum since November
The dollar index, which measures the price of the currency compared to six pairs, was 105.51 points, 1.1% below Monday’s levels, reaching its lowest level since last November.
The Canadian dollar was changed to 1,4479 units to US dollar, After having reached a minimum of one month of 1,4541 units late Monday, after Trump confirmed the tariffs. The Mexican peso dropped approximately 0.1% to 20,906 units per dollar, after having touched its minimum since February 3.
The euro rose 0.36%, to $ 1,0523, and reached its highest level from December 10, to $ 1,0559, reflecting the absence of tariffs so far in the European Union and a reduction in the difference between the yields of the American bonds and the euro zone, which has made the dollar less attractive.
The sterling pound touched a maximum of 11 weeks of $ 1,2753 Given the drop in the dollar, and then cut advances and operate with an increase of 0.08% to $ 1,2709.
The dollar weakened 0.66%, at 148.51 yenafter touching a minimum not seen from October 8 to 148.07 yen.
The Chinese yuan was strengthened to 7,265 units per dollaraided by the Central Bank, which maintained the bullish bias in its official daily guidelines.
Source: Ambito
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