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Dollar firms on tariff threats; stocks shrug and post gains
Khaleej Times
|February 11, 2025
The dollar edged higher on Monday after US President Donald Trump warned more tariffs were imminent including on steel and aluminium, although US futures and European stocks shrugged off the looming levies and rose.
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Speaking to reporters on Air Force One, Trump said he would announce on Monday 25 per cent tariffs on all steel and aluminium imports into the US, and reveal other reciprocal tariffs on Tuesday or Wednesday.
China's retaliatory tariffs on some US exports take effect on Monday, with no sign as yet of progress between Beijing and Washington.
Investors reacted by pushing the dollar slightly higher, with the index tracking the US currency up just over 0.1 per cent from Friday's close, at 108.17.
It climbed 0.59 per cent against Japan's yen, which had its best week since November last week as investors bet on more Bank of Japan rate hikes. The euro was flat at $1.0329.
The dollar rose against the currencies of commodity-exporting countries before moderating. The Canadian dollar was last around 0.2 per cent lower.
Cette histoire est tirée de l'édition February 11, 2025 de Khaleej Times.
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