The dollar system has always been vulnerable to presidential whim
But only now are asset managers beginning to reconsider the story of America as an inexhaustible well of safe bets
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US stocks pick up slightly; China raises tariffs to 125% – business live
Sell-off in US Treasuries continues as China ramps up trade war
- US stocks fall again after rally following Trump’s shock retreat on tariffs
- What are bonds and why have they spooked Donald Trump?
The US dollar slumped on Friday as waning confidence in the US economy prompted investors to ditch US assets to the benefit of safe havens like the Swiss franc, yen and euro, as well as gold.
The yellow metal recorded a new all-time peak in early Asia trade, and the franc notched a fresh decade high, Reuters reports.
There has been a pronounced ‘sell US’ vibe flowing through broad markets and into the classic safe-haven assets, with the USD losing the safe-haven bid.
Trump insists tariff war is ‘doing really well’ as recession fears mount
Wall Street experts warn of continued economic turbulence as countries scramble to make deals with US president
Donald Trump insisted his trade war with much of the world was “doing really well” despite mounting fears of recession and as Beijing hit back and again hiked tariffs on US exports to China.
As the US president said his aggressive tariffs strategy was “moving along quickly”, a close-watched economic survey revealed that US consumer expectations for price growth had soared to a four-decade high.
Fed ‘absolutely’ ready to help stabilise market if needed
US central bank prepared to act with ‘various tools’, Susan Collins says
Future of British Steel hangs in the balance, Starmer says as MPs prepare for Saturday vote – live
Parliament is being recalled on Saturday to vote on emergency legislation that will bring British Steel under government control
The care minister has defended the government’s cautious response to developments in global trade after the sweeping imposition of tariffs by the US administration in Washington.
Stephen Kinnock said “If we were to just jump in one direction or the other every time there’s a new development, we would be jumping around all over the place. I don’t think that that’s going to be in the interest of our economy or of our national security or of our business community.”