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Dollar steadies on renewed tariff worries - REUTERS

FEBRUARY 25, 2025

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Summary

  • Dollar edges away from over two-month low
  • Euro on the defensive as markets eye Germany coalition talks
  • Trump's tariff deadline nears, stokes nerves
  • Canadian dollar weakens slightly, implied volatility picks up

SINGAPORE/LONDON, Feb 25 (Reuters) - The dollar steadied on Tuesday, having fallen to its lowest in more than two months against a basket of major currencies a day earlier, buoyed by safe-haven flows after U.S. President Donald Trump said tariffs on Mexico and Canada would proceed as planned.

Trump on Monday said that tariffs on Canadian and Mexican imports were "on time and on schedule" despite efforts by the countries to beef up border security and halt the flow of fentanyl into the U.S. ahead of a March 4 deadline.

Stocks closed mostly lower Monday with the Dow eking out a slight gain, the S&P 500 dropping half of one percent, and the Nasdaq ending the session down 1.2%00:01

MARKET NEWS

February 25 Naira rises to N1,485 on black market on improved dollar liquidity - BUSINESSDAY February 25 Sterling steady before Bank of England economist remarks - REUTERS February 25 Dollar dips as U.S. yields fall, German politics supports euro - REUTERS February 25 Nigeria's economy grows at fastest in three years in fourth quarter - REUTERS February 25 Nigeria’s Shrinking Forex Reserves Threaten Recent Naira Gains - BLOOMBERG February 25 Nigeria GDP Grows at Fastest Pace in 3 Years on Services Sector - BLOOMBERG February 25 NPA simplifies export processes to boost economy - THE NATION February 25 FOB charge: Customs cancel import declarations, demand fresh recapturing - PUNCH February 25 Gold Eases From Record With Rate Hope, Haven Demand in Spotlight - BLOOMBERG February 25 Euro-Zone Wage Growth Cools From Record, Backing ECB Cuts - BLOOMBERG February 25 Naira gains against pound, euro, Canadian dollar since EFEMS - BUSINESSDAY February 25 SEC slashes time for companies to raise capital at 14 days - THE NATION February 25 Euro retreats from highs as German coalition talks eyed, dollar dips - REUTERS February 25 Nigeria’s Consumer Credit Corp Is Slowly Gaining Momentum - BLOOMBERG February 25 Nigeria, Belgium to boost food security ties – Finance Minister, Edun - DAILTY POST February 25 Bank of Canada’s Deposit-Rate Cut Appears to Fix Repo Market Strains - BLOOMBERG February 25 Iron ore declines on recovery in shipments, duties on Chinese steel - REUTERS February 25 Indian central bank likely intervened to halt rupee's decline, traders say - REUTERS February 25 OPEC+ to Hike Oil Output as Trump Seeks Lower Prices, BofA Says - BLOOMBERG February 25 Naira hits 7months high, appreciates to N1,500/$ in parallel market - VANGUARD February 25 Naira appreciates across official, black markets to begin on a good note - DAILY POST February 25 Naira rally: CBN FX intervention good for the economy – Rewane February 25 JPMorgan reclassifies Qatar, Kuwait as developed markets - BLOOMBERG February 25 Naira Stabilises at N1,501/$1 at Official Market - BUSINESS POST February 25 Dollar steadies on renewed tariff worries - REUTERS February 25 NCS cancels import declarations made on 4% FoB charge - THE NATION February 25 Gold Marks Fresh Record After Bullion-Backed ETFs See Inflows - BLOOMEBRG February 25 Canadian dollar sticks to recent sideways trading pattern - REUTERS February 25 Shell expects 60% rise in global LNG demand by 2040 - REUTERS February 25 CBN’s forex policies working – Rewane - PUNCH

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