Online Reporter
The euro fell to a three-week low early yesterday while the dollar made slight gains after US President Donald Trump threatened to impose a 30 percent tariff on imports from two of the largest US trading partners beginning August 1.
In cryptocurrencies, bitcoin scaled a record high and surpassed the US$120 000 mark, as investors bet on long-sought policy wins for the industry this week.
The world’s largest cryptocurrency last traded 2,6 percent higher at US$122 248,59, while ether gained 2 percent to US$3 052.
Trump on Saturday announced the latest tariffs in separate letters to European Commission President Ursula von der Leyen and Mexican President Claudia Sheinbaum that were posted on his Truth Social media site.
Both the European Union and Mexico described the tariffs as unfair and disruptive, while the EU said it would extend its suspension of countermeasures to US tariffs until early August and continue to press for a negotiated settlement.
Reaction in the currency market to Trump’s latest tariff threats was largely muted in Asian trade, though the euro did slip to a roughly three-week low early in the session.
The single currency later regained some ground and last traded 0,13 percent lower at US$1,1676.
Against the Mexican peso, the dollar rose 0,28 percent to 18,6763. Elsewhere, sterling was down 0.15 percent to US$1,3470, while the Japanese yen rose marginally to 147.31 per dollar.
Investors have grown increasingly desensitised to Trump’s slew of tariff threats, with his latest upheaval in the global trade landscape doing little to prevent US stocks from scaling record highs and offering just a slight boost to the dollar. — Reuters
