Dollar Falls Vs Peers After Trump’s Tariff Comments: Inside G-10
The dollar declined against all of its Group-of-10 peers after President Donald Trump said the US government will implement a 50% tariff on copper from Aug. 1.
The Bloomberg Dollar Spot Index edged down 0.1%.
The yen outperformed its G-10 peers as concern over an adverse impact of higher tariffs on the US economy boosted the demand for haven assets. The currency also gained following the Tokyo fixing, according to currency traders
The copper levy is in addition to country-by-country tariffs that the White House is finalizing with dozens of its biggest trade partners, also set to take effect on Aug. 1
“Tariff announcements from the US raise US policy uncertainty relative to the rest of the world, which has been the major force that has been pushing down the US dollar in 2025,” said Felix Ryan, a foreign-exchange strategist at Australia & New Zealand Banking Group Ltd. in Sydney
“The re-implementation of April 2 rates, or similar tariff rates, on a broad basis to key trading partners risks refreshing US dollar downside going forward”
Source: Bloomberg
