The dollar rose slightly – today, Wednesday – while there was no significant change in other currencies, amid anxiety and anticipation of a customs duties plan that US President Donald Trump will announce radical changes in the global trade system and shake financial markets.
The price of the euro in the latest transactions was $ 1.0784 at the time of the pound sterling reached $ 1.2907, as both decreased slightly before the White House announced the customs duties plan at 20:00 GMT.
Trump called Wednesday, April 2, “Liberation Day”.
White House spokeswoman Caroline Levit said yesterday that the new anti -customs duties will enter into force as soon as they are announced.
“The markets will witness tension before (this) the advertisement,” said Carol Kong, a strategic expert at the Australian currency.
“Confidence will be affected by any new news related to customs duties, and this in turn will push the currency movement before the upcoming announcement,” she added.
In exchange for the Japanese currency, the dollar rose slightly to 149.70 yen.
The Australian dollar rose 0.36% to $ 0.62301 to recover slightly from its decrease during the week.
Trump fees .. unclear details
Details about the size and scope of customs duties are still unknown, but the Washington Post reported that Trump’s assistants are studying the imposition of international customs duties by 20%, instead of targeting specific countries or products.
Derek Halbini, head of the research department at MUFG, said that imposing universal customs duties on all major commercial partners ranges between 20% and 25%, “will be considered the most severe, and it is likely that it will cause the biggest reaction to avoid risk.”
The recession fears were further caused by the impact of the escalation of the world trade war on the largest economy in the world and a series of American data that came weaker than expected, which in turn has undermined the dollar since the beginning of the year.
The dollar index – which measures the performance of the US currency against 6 main currencies – climbed slightly to 104.28 points today, despite the dollar recorded a decrease of 3.1% in March, which is the worst monthly performance since November 2022.
Yesterday’s data showed that the manufacturing sector in the United States was shrinking last March, while the inflation index jumped at the price of the factory to the highest level in nearly 3 years amid increasing concern about customs duties.
The Canadian dollar decreased slightly to 1.4304 per dollar, and Mexican bizo declined slightly to 20.389 per dollar.
Canadian Prime Minister Mark Carney’s office said that he had spoken with Mexico President Claudia Shinbum yesterday regarding his country’s plan to “confront the unjustified trade measures” of the United States.
For his part, the Governor of the Bank of Japan (Central) Kazu Oida said today that the new American customs duties may have a tremendous impact on global trade, warning of its potential repercussions on global growth.
