The US dollar hovered near multi-year lows on Monday as investors braced for the end of a 90-day moratorium on President Donald Trump’s “Liberation Day” tariffs.
The new duties, set to take effect August 1, could see steeper levies on key US trade partners, News.Az reports, citing Reuters.
Markets remain tense as Trump prepares to name countries facing new tariff hikes, with threats of an additional 10% tariff on nations aligning with BRICS policies. So far, only Britain, China, and Vietnam have reached trade deals with the US.
The uncertainty weighed on risk-sensitive currencies. The Australian and New Zealand dollars both dropped 0.7% ahead of central bank decisions, while the euro slipped 0.3% to $1.1750. The dollar index edged up 0.26% to 97.223 but remained close to last week’s 3.5-year low.
Analysts say markets are anticipating possible deadline extensions, but volatility is expected if Trump proceeds with the tariff hikes as planned.
