The dollar is falling, traders flock to safe ports, the euro course is rising
Trump’s steps cause concern.
Singapore. The US dollar continues to decline on Tuesday and its losses are deepening as financial markets are increasingly concerned about recession due to extensive duties US President Donald Trump.
On the other hand, the so -called. Safe ports – Japanese Jen and Swiss Frank are close to six months of maximum. The euro is also close to the highest level in six months.
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Monetary markets were fragile, but calm during Tuesday’s trading in Asia after fluctuations in the previous 24 hours.
Since Trump announced duties last week, global actions fell sharply.
China and the European Union quickly responded and proposed to increase duties for the US, for which Trump threatened them with even larger duties.
As far as currencies are concerned, investors in an effort to find a hiding place from the riots on the market, last week, they plowed to the Japanese yen and the Swiss Frank.
Jen also strengthened slightly on Tuesday morning and reached 147.325 JPY for the US dollar. This is close to a six -month maximum of 144.82 JPY/USD from last Friday.
The Swiss Frank at 0.85665 CHF/USD is also close to the six -month maximum from the end of last week.
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On Tuesday, the euro increased by 0.58 percent to 1.0967 USD/euros, which is also not far from the six -month maximum, which reached last week, while the pound rose by 0.4 percent to 1.2776 USD/GBP in the morning.
Although the dollar is usually considered a safe asset, it seems to be undermined by uncertainty about tariffs that raises concerns about economic growth in the US and elsewhere in the world.
The dollar index, which measures the power of the US dollar against the basket of six main names, fell by 0.44 percent on Tuesday. Since the notice of tariffs last week, the index has decreased by more than 1 percent.
