37 min ago
Dollar Slips After Trump Pauses Canada, Mexico Tariffs
The dollar fell slightly after U.S. President Donald Trump agreed to hold off imposing 25% tariffs on Canada and Mexico. However, a new 10% tariff on China has taken effect and the country said it will retaliate with new tariffs on select U.S. imports.
It remains tough to bet against the dollar as policy uncertainty remains elevated and "Trump is slapping tariffs on trading partners seemingly on a whim," Pepperstone strategist Michael Brown said in a note.
The dollar is supported by safe-haven demand as tariffs will impact global growth but also because this impact will be least felt in the U.S.
