Dollar rises, loonie falls as Trump announces new tariffs

Dollar rises, loonie falls as Trump announces new tariffs

Source: EODHD - https://www.investing.com/news/economy-news/dollar-rises-loonie-falls-as-trump-announces-new-tariffs-4131101
Published: Jul 10, 2025 9:36 PM

By Rae Wee SINGAPORE (Reuters) -The U.S. dollar rose on Friday on more signs of upheaval in the global trade landscape, as U.S. President Donald Trump announced more tariffs and said he planned to impose blanket levies of 15% or 20% on most trade partners. Most currencies initially held to tight ranges early in the Asian trading session, though the dollar later gained ground on the back of Trump’s latest comments which added to the uncertainty around his evolving trade policy. The Canadian dollar was among the biggest losers, falling more than 0.5% to 1.3726 per U.S. dollar after Trump announced a 35% tariff rate for goods imported from Canada, starting August 1. Trump on Thursday also said...

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.