The dollar traded higher against most of the other major currencies, while most major equity indices pulled back as risk appetite eased somewhat. The euro edged north following hawkish remarks by ECB President Draghi, while the pound recovered some of Friday’s lost ground on Brexit minister Raab's comments.
Equities Pull Back as Tariffs Go into Effect; Euro Rebounds After Draghi
The dollar traded higher against most of the other G10 currencies yesterday. It gained the most versus CHF, NZD, and AUD in that order, while it lost ground only against GBP. The greenback traded virtually unchanged against EUR, NOK and SEK.
Even though the safe-haven yen traded somewhat lower yesterday, the strengthening of the US dollar and the weakening of the commodity-linked Aussie and Kiwi suggest a setback in risk appetite. This is also supported by the performance in...
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