Market News
Euro drops to three-week low before auto tariff announcement - REUTERS
Summary
- US dollar rises, auto tariff announcement expected Wednesday
- BofA data reveals official sector selling of euro
- Sterling down after CPI, UK budget update
NEW YORK, March 26 (Reuters) - The dollar hit a three-week high against the euro and gained on the yen on Wednesday as traders awaited an announcement from U.S. President Donald Trump on auto tariffs.
Traders worry that the trade levies will dent U.S. growth and potentially reignite inflation but are also mulling whether the tariffs will be less onerous than feared.