US President Trump to stop short of imposing day-one tariffs – Reuters
Source Fxstreet
US President-elect Donald Trump, who takes office on Monday, will reportedly refrain from announcing day-one tariffs at his inauguration address, per Reuters.
"The official, confirming a Wall Street Journal report, said Trump will direct agencies to investigate and remedy persistent trade deficits and address unfair trade and currency policies by other nations," Reuters further added.
Market reaction
The US Dollar (USD) came under selling pressure following this report. At the time of press, the USD Index was down 1.2% on the day at 108.10.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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The USD/JPY pair is seen consolidating in a narrow band around mid-159.00s during the Asian session on Tuesday as traders opt to wait for the crucial Bank of Japan (BoJ) before placing fresh directional bets.
Gold price (XAU/USD) holds steady near $4,600 during the early Asian session on Wednesday. The precious metal steadies as traders await a key Federal Reserve (Fed) interest rate decision later on Wednesday.
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