The dollar dropped widely on Thursday, while the euro increased after US President Donald Trump announced that the customs duties expected against the main business partners, causing shit on the markets that prompted investors to seek security shelters such as the YEN and the Swiss franc.
Trump announced that he would impose a basic customs tariff of 10% on all imports in the United States and higher customs graphics to a number of the country’s largest business partners. These definitions will come into force on April 9 and apparently target around 60 countries.
Trump previously imposed customs, steel and cars customs tasks, as well as the increase in customs duties on all goods from China.
The new costs were exacerbated by the intensity of the trade war that Trump began when he returned to the White House and rocked the markets in the middle of the fears of fears that a complete trade war could lead to a net slowdown in the world economy.
“The markets are dominated by the position of risk reluctance, in an evaluation of the possibilities of decreasing global economic growth,” said Kyle Roda, chief financial analyst at Capital.com.
The Australian dollar dropped, affected by risks from 0.5%, to 0.6268 USD, while the New Zealand dollar dropped from 0.26% to $ 0.5730.
The new costs prompted investors to seek protection in traditional shelters such as the Japanese Yen and the Swiss franc. The Japanese yen increased by around 1% to 147.99 compared to the dollar, and the Swiss franc went to 0.8787 for the dollar.
The euro increased after advertisements on customs duties, and its increase in the latest transactions reached 0.43% to $ 1,0875 in the first hours of negotiation in Asia. The Sterling book increased by 0.28% to $ 1,3047.
Rodrigo Cutrill, a coach strategic expert at the National Bank of Australia, said that the consistency of the euro is likely to focus on Europe on the support of its economy from the impact of the tasks of American customs, without trying to respond.
The Chinese Yuan abroad recorded the lowest level in one month immediately after announcing the costs. In emerging markets, the Mexican Bzo dropped 0.25% to 20,2520 against the dollar.
Canada and Mexico, the largest trading partner in the United States, are already faced with customs duties of 25% on many products. And more costs will not be imposed under the announcement published on Wednesday. (Kingdom)
