Dollar rebounds on Trump tariffs, stocks point lower

[Pelican Press 0]

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Dollar rebounds on Trump tariffs, stocks point lower

The dollar rose against major peers on Tuesday after US President-elect Donald Trump threatened Canada and Mexico with a 25 per cent tariff on all imports into the ******* States.

Stocks were weak after strong gains globally in the previous session following fund manager Scott Bessent being nominated as Treasury Secretary, considered by investors as a voice for Wall Street in Washington.

“It’s almost as if Trump wants to remind markets who is in control, after nominating Scott Bessent as Treasury Sec – a man markets expected to cool Trump’s potency,” said Matt Simpson, senior market analyst at City Index.

The dollar jumped 1.5 per cent to 20.58 ******** pesos early in the ****** day. It added 0.14 per cent to 154.43 yen.

The euro slid 0.4 per cent to $US1.0453 ($A1.6071) and sterling lost 0.24 per cent to $US1.25405 ($A1.92805).

The Aussie dollar slumped 0.6 per cent to $US0.6466 ($A0.9941).

Australia’s stock benchmark fell 0.24 per cent and Japan’s Nikkei futures lost 0.4 per cent.

US S&P 500 futures pointed 0.2 per cent lower following a 0.3 per cent gain in the cash index overnight, when the small-cap Russell 2000 index also hit an all-time high.

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#Dollar #rebounds #Trump #tariffs #stocks #point

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