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Indonesia News Portal for Traders | Financial & Business Updates

1 August 2025 09:35  |

Swiss Franc Edges Lower as Trump Announces Tariffs: Inside G-10

The Swiss franc underperformed its Group-of-10 peers after President Donald Trump announced a 39% tariff on the nation’s products while setting a 10% global minimum rate.

USD/CHF rose 0.2% to 0.8135. The latest tariff on Switzerland was higher than the 31% rate Trump initially threatened to impose in April when he unveiled duties on dozens of trading partners

The Bloomberg Dollar Spot Index inched up 0.1% to the highest level since late May

The downside for the Swiss franc may be limited as that greenback tends to weaken whenever Trump raises tariffs and as Switzerland’s currency is considered a safe haven, said Mingze Wu, a currency trader at StoneX Financial

USD/CAD briefly rose 0.1% before turning little changed at 1.3860

Trump said the US will impose a 35% tariff on some imports from Canada after trade negotiations between the two countries broke down. The new rate represents an increase from the 25% tariffs Trump imposed in early March under an emergency law

USD/JPY inched up 0.1% to 150.89

AUD/USD rose 0.2% to 0.6436

EUR/USD slipped 0.1% to 1.1406

Source: Bloomberg

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