Dollar Falls As Traders Assess US Tariff Plan

2025-01-23 04:30:09

(MENAFN- The Peninsula) QNA

Singapore: The dollar drifted slightly higher yesterday in indecisive trading as a lack of clarity on President Donald Trump's plans for tariffs kept financial markets guessing.

Trump said late Tuesday at the White House that his administration was discussing imposing a 10% tariff on goods imported from China on Feb. 1, the same day that he previously said Mexico and Canada would face levies of around 25%.

The dollar index, which tracks the currency against the euro, yen, and four other top rivals, was down 0.14% at 108.

The euro slipped 0.07% to $1.0420, while the yen edged up slightly to 155.40 per dollar.

China's yuan was flat at 7.2735 per dollar in offshore trading.

The Canadian dollar eased about 0.1% to C$1.4335 per greenback.

The Mexican peso also edged 0.1% lower to 20.6350 per dollar.

Meanwhile oil prices were little changed in early trading yesterday as markets weighed US President Donald Trump's declaration of a national energy emergency on his first day in office a.

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