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

SINGAPORE, March 25 (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 >
CANADA STOCKS-TSX futures slip ahead of Fed rate decision
CANADA STOCKS-TSX futures slip ahead of Fed rate decision
May 1, 2024
May 1 (Reuters) - Futures for Canada's main stock index dipped on Wednesday, ahead of the U.S. Federal Reserve's interest rate decision later in the day, while investors awaited more domestic economic data to gauge the strength of the Canadian economy. June futures on the S&P/TSX index were down 0.3% at 6:39 a.m. ET (10:39 GMT). All eyes will be...
SOFTS-Cocoa prices fall as traders take stock of recent rally
SOFTS-Cocoa prices fall as traders take stock of recent rally
May 1, 2024
LONDON, May 1 (Reuters) - Cocoa futures on ICE fell on Wednesday as traders took stock of this year's meteoric ascent, with signs emerging that the market's bullish supply-side drivers are priced in, for now. Coffee and sugar also fell. COCOA * July London cocoa fell 0.3% to 7,906 pounds a metric ton by 1117 GMT, extending the market's retreat...
Stocks Mostly Down Pre-Bell Ahead of Fed Policy Decision; Asia Churns, Europe Falls
Stocks Mostly Down Pre-Bell Ahead of Fed Policy Decision; Asia Churns, Europe Falls
May 1, 2024
06:59 AM EDT, 05/01/2024 (MT Newswires) -- The main US stock measures were pointing lower in premarket activity Wednesday as investors await more corporate earnings and the Federal Reserve's policy decision on interest rates later in the day. Standard & Poor's 500 futures declined 0.5%, the Nasdaq was off 0.8% and the Dow Jones Industrial Average decreased 0.3% before the...
London Inches Higher in Holiday-Thinned European Trading
London Inches Higher in Holiday-Thinned European Trading
May 1, 2024
07:44 AM EDT, 05/01/2024 (MT Newswires) -- European bourses were largely closed on holiday Wednesday, though London remained open and inched higher. Investors also eyed Wall Street futures signaling red, and lower closes overnight on Asian exchanges in holiday-thinned trading. Shares in Aston Martin Lagonda Global traded down 4.5% midday after the automaker reported earnings, and soft SUV sales. Yields...
Copyright 2023-2025 - www.financetom.com All Rights Reserved