Market News
Tariff threat bruises euro, Australian and Canadian dollars - REUTERS
By Ankur Banerjee and Alun John
Summary
- Euro, loonie and Aussie under pressure
- Trade war worries unnerve investors
- China's retaliatory duties to take effect on Monday
- Yen softens after strong week
SINGAPORE/LONDON, Feb 10 (Reuters) - Fresh threats of tariffs from U.S. President Donald Trump put pressure on the euro and the Australian and Canadian dollars in early Monday trading, though moves were less dramatic than last week's tariff-driven swings.
Trump said he would announce new 25% tariffs on all steel and aluminium imports into the U.S. later on Monday, as well as reciprocal tariffs on Tuesday or Wednesday that will be applied to all countries and matching the tariff rates levied by each nation.
The latest salvo adds to jitters over a global trade war, with China's retaliatory duties on U.S. goods due to take effect on Monday.
The Canadian dollar was among the biggest fallers among developed market currencies, with the dollar up 0.33% at C$1.4347.
Canada is a major exporter of steel and aluminium to the U.S.
