The US Dollar (USD) is trading a little more defensively overall this morning as markets digest the latest round of US tariff news—a hefty 50% on copper and 50% on Brazil, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, retreats from near a two-week high to 97.30 amid tariff threats after US President Donald Trump unveiled a new round of tariff demand letters.
The Dow Jones Industrial Average (DJIA) gained ground on Friday, driven by a combination of investor expectations that the US will figure out how to secure trade deals that circumvent its own ringfence of threatened tariffs, and rising expectations of more rate cuts from the Federal Reserve (Fed) by