The dollar fell this Friday after President Donald Trump once again intensified his commercial war, recommending that the European Union be beaten with 50% tariffs from June 1.
This revived concern about the impact of tariffs on world economy and global trade.
Trump said in comments on social networks that the EU was “very difficult to deal with” and that “our discussions with them are not going anywhere.”
Trump threatened to impose a 25% tariff on Apple’s iPhone not made in the United States, as well as Samsung and other smartphones manufacturers.
“The key issue that is weighing on the dollar at this time is the loss of confidence in the policy of the United States,” said Elias Haddad, senior market strategist Brown Brothers Harriman in London. “There is an current commercial war and that is leading countries to reassess their dependence on the United States.”
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In the afternoon operations in New York, the dollar sank 1% against the Japanese Yen 142.48 units per green ticket, after falling to minimum of two weeks. In the week, the green ticket lost 2.2% compared to the Japanese currency, its largest weekly fall since April 7.
The euro rose 0.8% to 1,1363 dollars. First of the session he had played a maximum of two weeks, and registered his largest weekly rise in six weeks.
The dollar index, which measures the green ticket in front of a foreign exchange basket, fell 0.8%, 99.09 units, a minimum in three weeks.
In the week, the green ticket has lost 1.9%, which represents its largest weekly fall since the beginning of April.
The secretary of the Treasury, Scott Besent, said that Trump’s statement was in response to the EU rhythm in tariff conversations, indicating that it can be a negotiation tool.
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After Moody’s dropped last week the qualification of the US debt, the attention of investors has focused on the broad debt of the country, which amounts to 36 billion dollars, and in Trump’s tax bill, which could add more financial burden.
With Reuters information
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