The dollar traded on the back foot against most of the other G10 currencies on Monday, with the yen being among the currencies which failed to gain ground even after US President Trump officially announced tariffs on USD 200bn Chinese imports. As for tonight, the BoJ concludes its policy meeting, but we don’t expect the decision to reveal any major changes.
US Imposes 10% Tariffs on USD 200bn Chinese Imports
The dollar traded lower yesterday against all but two of the other G10 currencies. It underperformed the most against SEK, NOK and NZD, while it traded virtually unchanged against CAD and JPY.
A few hours after the US close, US President Donald Trump officially announced that he will proceed with the new round of tariffs on USD 200bn worth of Chinese goods at a 10% rate. According to a senior administration official, the duties will go into effect on the...
Read the full financial markets daily report on JFD Research.