The markets assimilated the perspectives of the tariff policy of President Donald Trump and his potential to damage growth and accelerate inflation.
The dollar fell generalized this Mondayerasing the profits of the previous week, because the markets assimilated the prospects of the president’s tariff policy Donald Trump and his potential to damage growth and accelerate inflation.
The American currency began the week down, after Trump said Friday that He plans to duplicate 50% of steel and aluminum tariffs as of Wednesday, and after Beijing rejected accusations that he violated an agreement on shipments of critical minerals.
He Chinese Ministry of Commerce said Monday that accusations are “unfounded” and promised to take unbrusted measures to safeguard their interests. He Secretary of the Treasury, Scott Besent, said Sunday that Trump and Chinese president, Xi Jinping, will probably speak soon to file roughness, Reuters reported.
Dollars
“Every time the tariff concern resurfaces, everyone returns to the strategy of ‘selling the United States'”, Michael Brown, market analyst of the Bolsa corridor online Pepperstone in London, adding that the selling pressure on the dollar was widespread.
The dollar lost 0.8% compared to its Japanese pair, 142,60 yen, almost completely erasing its gain last week.
The dollar approached its minimum in three years and the euro touched a maximum since April
The euro won 0.8%, AU $ S1,14355, its maximum since the end of April. Later in the week, attention will focus on the decision of the European Central Bank on interest rates and subsequent perspectives.
The dollar deepened its losses after knowing data that showed that the US manufacturing sector contracted for the third consecutive month in May And that suppliers took longer to deliver inputs due to tariffs, which could indicate an imminent scarcity of some products.
The dollar index fell 0.6%, to 98.75 units, near its minimum of three years of 97,923 registered at the end of April.
The dollar has been suffering several weeks due to Trump’s changing commercial policy and investors have been questioning the green ticket refuge status As a resurgence of tension enlivens the fear of a recession in the United States.
Source: Ambito
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