By
Cot-Trading -
Thursday, February 27, 2025
-
No Comments
The U.S. dollar strengthened for a second consecutive day on Thursday, as investors evaluated President Donald Trump's recent tariff announcements. Trump confirmed that proposed tariffs on Canada and Mexico are set to take effect on March 4, citing ongoing concerns about drug trafficking from these countries. Additionally, he announced a 10% surcharge on Chinese imports starting the same day. Despite earlier indications of a potential delay to April 2, the White House clarified that the original March 4 deadline remains in place, pending a review of border security measures by Canada and Mexico. Trump also suggested a forthcoming 25% "reciprocal" tariff on European Union imports, to which the EU has vowed a firm and immediate response. Following these developments, both the Canadian dollar and Mexican peso appreciated against the U.S. dollar, while the euro retreated from its one-month high. The U.S. dollar index rose by 0.5% to 106.97. Investors are now turning their attention to the upcoming release of the U.S. personal consumption expenditures price index on Friday, seeking insights into the Federal Reserve's future interest rate decisions.
Share This:
The U.S. dollar strengthened for a second consecutive day on Thursday, as investors evaluated President Donald Trump's recent tariff announcements. Trump confirmed that proposed tariffs on Canada and Mexico are set to take effect on March 4, citing ongoing concerns about drug trafficking from these countries. Additionally, he announced a 10% surcharge on Chinese imports starting the same day. Despite earlier indications of a potential delay to April 2, the White House clarified that the original March 4 deadline remains in place, pending a review of border security measures by Canada and Mexico. Trump also suggested a forthcoming 25% "reciprocal" tariff on European Union imports, to which the EU has vowed a firm and immediate response. Following these developments, both the Canadian dollar and Mexican peso appreciated against the U.S. dollar, while the euro retreated from its one-month high. The U.S. dollar index rose by 0.5% to 106.97. Investors are now turning their attention to the upcoming release of the U.S. personal consumption expenditures price index on Friday, seeking insights into the Federal Reserve's future interest rate decisions.
No Comment to " US Dollar Firms Amid Uncertainty Over Trump's Tariff Plans "