financetom
World
financetom
/
World
/
Data lifts dollar as Trump talks tariffs
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Data lifts dollar as Trump talks tariffs
Mar 24, 2025 6:22 PM

SINGAPORE (Reuters) - The dollar hit a three-week high on the yen early on Tuesday and was firm across the board after some strong U.S. services data and cautious optimism on the tariff front.

President Donald Trump said not all of his threatened levies would be imposed on April 2 and some countries may get breaks, which helped the dollar and the mood on Wall Street overnight by soothing some fears about a slowdown in U.S growth.

The dollar jumped 0.9%, pulling above 150 yen, then rose a little further in the Asia morning to a three-week high of 150.92 yen.

A strong services component in S&P Global's flash U.S. PMI figures pushed up U.S. yields and coincided with weakness in Japan, where services and manufacturing were both in contraction.

The dollar also hit its strongest since March 6 at $1.0781 per euro, as a powerful rally in the common currency loses steam.

It was last trading at $1.0796, while sterling hit a two-week low of $1.2883 before steadying at $1.2918 in Asia trade. The U.S. dollar index notched a fourth straight session of gains to settle at 104.3.

But with Trump vowing that automobile tariffs are coming soon and the market implications of the levies complicated by concerns about U.S. growth, the next move is not obvious.

Data from the Commodity Futures Trading Commission on Friday showed that speculators turned net bearish on the U.S. currency last week for the first time since October, though the position is close to neutral.

"It seems like nobody knows what to do with the USD," said Brent Donnelly, President at analytics firm Spectra Markets.

"The EUR/USD trade has petered out, as have the massive move in rate differentials and relative equity performance," he said.

"The view that tariffs are unambiguously bullish USD has been challenged by the price action in 2025, and so even when we get the information on what tariffs look like next week, it will be hard to know what we are supposed to do."

The Australian dollar seemed to catch support from optimism about Trump's tariff flexibility, and was steady at $0.6282. Australia's government will unveil a pre-election budget at 0830 GMT, aimed at cost of living relief.

Bitcoin rode about 3% higher with the mood to trade around $87,400 in Asia. The New Zealand dollar slipped to its lowest in a week at $0.5725.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Turkey stocks climb, lira at low after opposition election win
Turkey stocks climb, lira at low after opposition election win
Apr 1, 2024
(Reuters) - Turkish stocks rose on Monday and the lira weakened slightly after hitting its record low against the dollar after the political opposition logged a thumping victory over President Tayyip Erdogan's AK Party (AKP) in local elections. Analysts said the near 70% inflation rate, slowing economic growth and an aggressive monetary tightening campaign that has jacked up borrowing costs...
Asian Equities Traded in the US as American Depositary Receipts Open Week Higher in Monday Trading
Asian Equities Traded in the US as American Depositary Receipts Open Week Higher in Monday Trading
Apr 1, 2024
10:42 AM EDT, 04/01/2024 (MT Newswires) -- Asian equities traded in the US as American depositary receipts opened the week modestly higher Monday morning, rising 0.16% to 1,885.69 on the S&P Asia 50 ADR Index. From North Asia, the gainers were led by solar project developer Emeren Group ( SOL ) and game live-streaming company DouYu International ( DOYU )...
Stock Futures Climb Pre-Bell as Traders Await Labor Data; Asia, Europe Strong
Stock Futures Climb Pre-Bell as Traders Await Labor Data; Asia, Europe Strong
Apr 1, 2024
07:08 AM EDT, 04/01/2024 (MT Newswires) -- The benchmark US stock measures were tracking in the green before the open Monday, as investors look ahead to data on the labor market later in the week. Standard & Poor's 500 futures rose 0.4%, the Nasdaq added 0.6% and the Dow Jones Industrial Average gained 0.3% in premarket trading. Asian exchanges were...
Factory Outlook Lifts China Stocks; Otherwise Asia Choppy
Factory Outlook Lifts China Stocks; Otherwise Asia Choppy
Apr 1, 2024
06:58 AM EDT, 04/01/2024 (MT Newswires) -- Asian stock markets were uneven Monday in holiday-thinned trading, with exchanges in Hong Kong and Sydney shuttered. Shanghai gained on prospects for a stronger factory sector, Tokyo lost ground, and other regional exchanges were mixed. In Japan, the Nikkei 225 opened evenly but declined to the close, finishing off 1.4% after a Bank...
Copyright 2023-2025 - www.financetom.com All Rights Reserved