Dollar Edges Higher as Traders Await Tariff Clarity
The dollar edged higher for a second day amid month-end flows and as traders awaited clarity over the start date for US trade levies on Mexican and Canadian goods.
The Bloomberg Dollar Spot Index rose 0.1% while the yield on 10-year Treasuries climbed two basis points to 4.28%. The Swiss franc and yen underperformed their Group-of-10 peers.
“Month-end flows will dominate FX into the end of the week as we await more clarity on whether tariffs on Mexico and Canada have been pushed back,” said Tony Sycamore, an analyst at IG. The confusion surrounding US President Donald Trump’s tariffs is “giving people reason to stand pat. It’s left the market now just a little bit lost in terms of guidance for what comes next,” he said.
USD/JPY rises 0.1% to 149.24.
Japan’s Vice Finance Minister for International Affairs Atsushi Mimura on Wednesday indicated he had no issue with growing market expectations over Bank of Japan interest-rate hikes. Mimura also highlighted the need for vigilance over any potential excessive moves in foreign-exchange rates.
USD/CHF advances 0.2% to 0.8961.
AUD/USD little changed at 0.6303.
NZD/USD drops 0.1% to 0.5689.
EUR/USD slips 0.1% to 1.0473.
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