US dollar perks up to start Fed day ...Middle East

The dollar bid undoubtedly highlights some angst about tariffs as the White House continues to talk about imposing them on Mexico, China and Canada on the weekend. Treasury yields pulling in the opposite direction of the dollar as they decline 2-3 bps across the curve.

Here's BMO's Ian Lyngen on tariffs:

"Backing into a rough guestimate of the impact of tariffs on the go-to inflation measures is arguably the ‘easy’ part, while creating a reasonable projection for how shifting demand preference and substitution trends will ultimately impact real growth is far more complex and entails less concrete assumptions."

Finally, there could be some demand for US dollar as buyers dip back into US tech stocks following the rout on Monday.

This article was written by Adam Button at www.forexlive.com.

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