Dollar Rises Amid Auto-Tariff Relief Expectations
The dollar traded higher versus all G-10 currencies after reports that the Trump administration will lessen the impacts of auto tariffs. The euro fell after survey data showed inflation expectations approaching a one-year high.
The Bloomberg Dollar Spot Index rose 0.2% after falling 0.5% on Monday
Stocks rose and the yen extended losses with President Donald Trump scheduled to sign an executive order easing the impact of his auto tariffs.
Month-end flows support the greenback and are bigger size than usual, according to a Europe-based trader.
US consumer confidence fell to a nearly five-year low in April on tariff concerns. Job openings fell to the lowest level since Septembe.
EUR/USD fell 0.3% to 1.1384; inflation expectations of euro-area consumers approached a one-year high in March, the European Central Bank said.
USD/JPY advanced 0.2% to 142.28, after falling 1.2% Monday.
GBP/USD retreated from a three-year high, down 0.3% at 1.3404.
AUD/USD slipped 0.7% to 0.6388 while NZD/USD fell 0.6% to 0.5942.
The aussie and kiwi were the worst performing currencies against the dollar.
Some information comes from an FX trader familiar with the transactions who asked not to be identified because the person isn’t authorized to speak publicly.
Source: Bloomberg
