February 13, 2025 11:51 GMT
US: Greenback Gains, Equities Slip on Trump Reciprocal Tariff Post
US
Trump posts: "THREE GREAT WEEKS, PERHAPS THE BEST EVER, BUT TODAY IS THE BIG ONE: RECIPROCAL TARIFFS!!! MAKE AMERICA GREAT AGAIN!!!"
Greenback tipped higher on the back of Trump's reciprocal tariffs post on Truth Social - another suggestion and hint that reciprocal tariffs are forthcoming after being heavily speculated last week. This isn't too far outside of expectations, but is the latest concrete sign that we could see a further escalation in trade tensions.
- This raises focus on Trump's schedule for today: He is set to sign executive orders from 1800GMT/1300ET before meeting with India's PM Modi - of particular relevance as India are one of the nations that could suffer most sharply from a reciprocal tariff arrangement.
- EUR/USD briefly back below $1.0400 on the post, with equity futures also dipping slightly. Yields far more resilient.
Keep reading...Show less
133 words