Dollar gains on Trump's new tariffs; sterling hit by weak growth data

Dollar gains on Trump's new tariffs; sterling hit by weak growth data

Source: EODHD - https://www.investing.com/news/forex-news/dollar-gains-on-trumps-new-tariffs-sterling-hit-by-weak-growth-data-4131434
Published: Jul 11, 2025 4:56 AM

Investing.com - The U.S. dollar edged higher Friday after U.S. President Donald Trump’s latest tariff announcements prompted moves into this safe haven, while weak growth data hit sterling. At 04:55 ET (08:55 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, rose 0.2% to 97.500, and is on course for a weekly gain of around 0.6%. Dollar gains on safe haven flows Trump late Thursday announced a 35% tariff rate on all imports from Canada from August 1 and planned to impose blanket tariffs of 15% or 20% on most other trading partners. This followed the U.S. president sending letters dictating new U.S. tariff rates to a variety of countries earlier this...

Market context: This update is relevant to AUD traders, with AUDUSD as the primary instrument to monitor for follow-through, trend continuation, or headline volatility.