Dollar tumbles as Trump shies away from trade tariffs

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Financial Times 14h ago

Dollar tumbles as Trump shies away from trade tariffs - Financial Times

Quick Summary:

The euro and sterling leapt, adding 1.2 per cent and 1.1 per cent respectively — on track for their best days since November and December 2023 respectively.

The currency dropped 1 per cent against a basket of six peers in London afternoon trading, putting it on course for its biggest daily decline in more than five months.

However, he added that there was still scope for “potentially aggressive tariffs down the line once the reviews of trade relationships by federal agencies have taken place”.