Elsewhere, EUR/USD is up 0.9% to 1.1045 and that one has erased the drop from Trump's call to pause reciprocal tariffs. And we also have USD/JPY down 1.1% today to 146.08 currently. Besides that, GBP/USD is up 0.4% to 1.2870 and NZD/USD up 0.5% to 0.5675. AUD/USD is down flat at 0.6150 but that arguably owes to the escalation in the US-China trade conflict.
As much as Trump's tariffs pause is now in effect, there's still a big regime change in the global trade.
As of now, one can argue that when measuring the pain for global trade, it's not so much about the breadth but more so about the depth. That as the focus turns largely towards China.
And in this new climate, markets are also acting wonky with investors definitely sensing some unease in wanting to hold dollars for safety. That's allowing for the yen and franc to be the ultimate haven currencies and keeping the likes of gold very much in favour.
There's still much to figure out with regards to the economic circumstances as well as observing the US-China rhetoric in the meantime. In short, there is still a lot uncertainty left for traders to work with as the tariffs saga continues over the coming months.
This article was written by Justin Low at www.forexlive.com. Read More Details
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