The dollar slid against the yen, while the euro held gains against the greenback on Wednesday as US President Donald Trump announced global reciprocal tariffs that look certain to escalate a trade war with global partners. In late trading after Trump reiterated that the U.S. would impose 25% tariffs on foreign-made autos, the dollar turned 0.2% lower against the yen to 149.255 yen after trading higher for most of the session. The Trump tariffs are "going to result in lots of tit-for-tat negotiations - what concessions can be made to get these down, whatever leverage the U.S. exerts to get other countries to do something to get these tariff levels down, whether it's defence considerations in Europe and/or Japan," said John Hardy, chief macro strategist at Saxo Bank in Copenhagen.
Author: Reuters
Published at: 2025-04-02 21:59:12
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