Dollar slumps 1% on report of narrower Trump tariffs

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LONDON: The dollar slumped 1% on Monday after a report said President-elect Donald Trump was mulling tariffs that would only be applied to critical imports, potentially a relief for countries that were expecting broader levies.

A slew of Fed policymakers are due to speak this week and are likely to reiterate recent comments from their colleagues that the battle to tame inflation is not yet over.

"Perhaps the initial phase of tariff hikes in Trump's second term may prove to be less than the market had been fearing," he said.

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Category: EconomyBusiness

Markets: MalaysiaAustraliaChinaJapan

Topics: /Business/Business News Donald Trump Forex Tariffs US dollar Imports

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-06 @ 20:50:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 410 words

Reading Time: 3 minutes read

Sentences: 14 lines

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Copyright Owner: © The Star

News ID: 24915913

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Official Website: thestar.com.my

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