Dollar drops on reports Trump will scale back tariff plans

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Financial Times 1d ago

Dollar drops on reports Trump will scale back tariff plans - Financial Times

Quick Summary:

The yield on the two-year US government bond, which moves with rate expectations, was down 0.02 percentage points at 4.26 per cent, as the price of the debt rose.

US government bonds, which have sold off in recent months as investors girded for higher inflation driven by broad tariffs, regained a little ground.

Chris Turner, global head of markets at ING, said the reports had sparked a “relief rally” in the euro against the dollar, with hopes that the region’s automakers could be spared.