Dollar Gains for 5th Day as Traders Await Tariffs: Inside G-10
A gauge of the dollar edged higher for a fifth day, as US President Donald Trump prepares to unleash tariffs on Mexico and Canada.
Bloomberg Dollar Spot Index rose 0.1%.
Despite recent gains, the index hasn’t risen enough to erase its first monthly decline since September
Trump has pledged 25% tariffs goods from Canada and Mexico; the scope of the duties remains unclear
NOTE: Trump Barrels Toward Tariff Showdown With Canada, Mexico, China
USD/JPY dropped as much as 0.2% to 153.92.
Fix-related yen selling got absorbed, according to an Asia-based FX trader
“The lingering trade tariff risks, positive US growth pulse, and higher interest rates should keep the US dollar firm” over the first and second quarters, Peter Dragicevich, currency strategist at Corpay Inc., wrote in a note.
The yen has garnered “strength from the narrowing yield differentials between Japan and other major nations, as well as the pickup in volatility”
Source: Bloomberg
