Dollar Advances Amid Tariff Threats; Yen Lags
The dollar advanced Friday as US President Donald Trump mulls blanket tariffs of 15% to 20% on most trading partners. The Canadian currency was weighed down by Canada-specific tariffs, but a strong domestic jobs report curbed the decline. The yen was lagging behind in the Group of 10.
The Bloomberg Dollar Spot Index rises 0.2%, up more than 0.7% on a weekly basis.
USD/CAD rose 0.2% to 1.3685, climbing as high as 1.3731 earlier.
The Canadian labor force added the most jobs in six months and the unemployment rate surprisingly fell, supporting another interest-rate pause from the Bank of Canada.
GBP/USD fell 0.6% to 1.3497 .
The pound headed for its longest daily losing streak in eight months after data showed the UK economy shrank for a second straight month.
UK GDP declined 0.1% in May after contracting 0.3% the previous month.
USD/JPY is up 2% this week, most in a week this year; the pair rose Friday by 0.8% to 147.41
EUR/USD drops 0.1% to 1.1688
Source : Bloomberg
