Movements of the US dollar against most major currencies today
The dollar rose during trading this week after falling to its lowest level in more than two months at the opening of the Week yesterday, supported by safe haven flows after US President Donald Trump said that tariffs on Mexico and Canada will continue as planned.
Trump said on Monday that tariffs on Canadian and Mexican imports will be on time and on schedule, despite the efforts of countries to strengthen border security with the United States before the March fourth deadline.
His comments spurred demand for safe-haven assets such as gold and U.S. Treasury bonds, where the dollar also benefited from some risk aversion moves.
DXY
The dollar index settled at almost 106.70 after hitting its lowest level in more than two months yesterday at the levels of 106.12.
While the dollar is down about 3% from its January peak after a series of weaker-than-expected US economic data raised concerns about growth prospects, continued losses were short-lived due to ongoing concerns about tariffs.
USDCAD
The US dollar rose against the Canadian currency after Trump's statements yesterday, the pair moved away from its lowest levels in almost two and a half months, reaching the levels of 1.4260 now.
EURUSD
The rise in the dollar, in turn, left the euro far awayfrom its one-month high, with the likelihood that future gains in the single currency will depend on how quickly a coalition government is formed in Germany after the country's Conservatives win the elections.
GBPUSD
The pound sterling deviated from its two-month high on Monday and last recorded a price of 1.26385 dollars.
AUDUSD
The Australian dollar also fell, moving away from its two-and-a-half-month high set last week.
USDJPY
The dollar also rose above the 150.00 levels today, recovering from its decline to its weakest level since early December against the Japanese currency on Monday, but returned again and is trading near this level again, with the strength of the Japanese yen against most major currencies against the backdrop of speculation of another interest rate hike by the Bank of Japan.
