He global dollar rose on Tuesday after the president-elect of USA, donald trumpconfirmed that he will impose duty to products from China, Mexico and Canada to reach their country, while investors prepared for policies that could lay the groundwork for trade confrontations.
Following Trump’s comments, the mexican peso weakened 1.69% against the greenback and the Canadian dollar weakened 0.55% against the greenback. While the euro fell 0.18% against the dollar to $1.0475. In front of japanese yenthe dollar weakened 0.73% to 153.08.
In recent days, the global dollar has been slowed by Trump’s decision to appoint hedge fund manager Scott Bessent as Secretary of the Treasury, which has caused a rise in prices state bonds and a drop in yields, with the consequent drag on the US currency.
However, the president-elect of the United States stopped that momentum when he said that on his first day in office he would impose a 25% tariff on all products from Mexico and Canada.
Regarding China, Trump assured that Beijing was not taking strong enough measures to curb the export of ingredients used in illicit drugsproposing an “additional 10% tariff, on top of any tariffs on its many products arriving in the United States.”
Currencies bounced as markets digested Trump’s comments, with the dollar index rising to 106.86 points, after touching 107.55.
He bitcoin fell 2.06% to $91,758, adding to Monday’s losses after hitting an all-time high of $99,830 last week. The currency had benefited from speculation about a looser regulatory environment for cryptocurrencies under the Trump administration.
Source: Ambito
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