Dollar gains on Trump tariff threats, euro near 2-year low
Trump also said he will announce reciprocal tariffs on Tuesday or Wednesday, applying them to all countries and matching the tariff rates levied by each country. The move adds to jitters over a global trade war, with China's retaliatory duties on U.S. goods due to take effect on Monday.
Trump last week kicked off a trade war, first by imposing tariffs on Mexico and Canada and then pausing them, but sticking with duties on Chinese goods. That led to a measured tit-for-tat response from Beijing suggesting some room for negotiations.
The euro was 0.1% lower at $1.0317 in early trading, close to the more than two-year low of $1.0125 it touched last week as investors braced for tariffs that Trump has repeatedly threatened against Europe.
The Australian dollar was down 0.21% at $0.6264, hovering near the five-year low it touched last week, while the kiwi eased 0.12% at $0.5649. The Canadian dollar weakened over 0.2% as Canada is the largest supplier of primary aluminium metal to the United States.
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