Dollar Climbs as Canadian Loonie Rises With Oil
A gauge of the dollar ticked up after major declines in previous sessions. The Norwegian krone and the Canadian loonie were among best performers in the Group of 10, supported by advances in oil prices together with a broader market rebounding.
Trump’s trade war is threatening the global financial stability that’s kept banks and insurers safe since the 2008 crisis, the International Monetary Fund warned.
Bloomberg’s Dollar Spot Index traded 0.1% up, after three days of declines.
On Monday, it touched its lowest level since December 2023, after President Donald Trump’s threat to fire Federal Reserve Chair Jerome Powell.
USD/CAD declined 0.3% to 1.3808; USD/NOK dropped 0.5% to trade at 10.3232
EUR/USD fell 0.3% to 1.1479
The European Central Bank has almost achieved its goal of returning inflation to 2% but must remain flexible as the economic backdrop becomes more volatile, President Christine Lagarde told CNBC
EUR/JPY fell 0.3% to trade near 161.65.
USD/JPY declined as much as 0.7% to 139.89 after a report said Bank of Japan officials see little need to change their existing stance of gradually raising interest rates for now despite uncertainties stemming from US tariffs. The pair later curbed its drop.
Source: Bloomberg
