China accuses US of ‘seriously violating’ trade war truce – business live
Rolling coverage of the latest economic and financial newsThe euro has now hit its highest level against the US dollar since late April, as trade war jitters hit the foreign exchange markets.The single currency hit $1.1436 this morning, a five-week high, up almost a cent.The flip-flopping on trade policy looks set to continue and it appears the uncertainty this creates does not bother President Trump at all. That is likely to give investors the reason to renew selling of the US dollar.The DXY index is back below the 99-level today and within 1% of the intra-day low on 21st April. Certainly if the Trump-Xi meeting goes badly or if it doesn’t take place at all, that low-point for the dollar could well be breached this week, taking us to levels not seen since March 2022.“An increase in steel import duties in the USA to 50% should prompt the EU Commission to accelerate its efforts to implement the measures under the Steel and Metals Action Plan.” Continue reading...
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Rolling coverage of the latest economic and financial news
The euro has now hit its highest level against the US dollar since late April, as trade war jitters hit the foreign exchange markets.
The single currency hit $1.1436 this morning, a five-week high, up almost a cent.
The flip-flopping on trade policy looks set to continue and it appears the uncertainty this creates does not bother President Trump at all. That is likely to give investors the reason to renew selling of the US dollar.
The DXY index is back below the 99-level today and within 1% of the intra-day low on 21st April. Certainly if the Trump-Xi meeting goes badly or if it doesn’t take place at all, that low-point for the dollar could well be breached this week, taking us to levels not seen since March 2022.
“An increase in steel import duties in the USA to 50% should prompt the EU Commission to accelerate its efforts to implement the measures under the Steel and Metals Action Plan.”
Continue reading...
