Market News
Pound in focus: commodity and currency check, 21 January - YAHOO FINANCE
The pound was lower against the dollar, slipping 0.5% to $1.2250, as the greenback rose after US president Donald Trump said he would probably move to impose tariffs from next month.
The dollar rebounded after Trump said his administration is planning to impose a 25% tariff on imports from Mexico and Canada as early as February 1.
Trump added he was still considering a universal tariff on all foreign imports to the US, before backtracking.
"You'd put a universal tariff on anybody doing business in the United States because they're coming in and they're stealing our wealth," he said, adding that implementation could be "rapid." After this pledge he claimed he was "not ready for that yet."
The dollar rebounded after Trump said his administration is planning to impose a 25% tariff on imports from Mexico and Canada as early as February 1.
Trump added he was still considering a universal tariff on all foreign imports to the US, before backtracking.
"You'd put a universal tariff on anybody doing business in the United States because they're coming in and they're stealing our wealth," he said, adding that implementation could be "rapid." After this pledge he claimed he was "not ready for that yet."
