Dollar weakens against yen and euro due to uncertainty over Trump's tariffs

From Yahoo Finance: 2025-03-24 21:07:00

The dollar weakened against the yen and held steady against the euro due to uncertainty over Trump’s tariffs. Trump announced not all levies will be imposed on April 2. Rising optimism about tariffs not being as severe as feared has helped stabilize the dollar.

U.S. consumer confidence dropped for a fourth consecutive month in March, causing concern about household finances and job prospects. The dollar fell against the Japanese yen but was little changed against the euro. Bank of Japan policymakers discussed raising interest rates further.

The euro was boosted by German business morale rising in March. French central bank chief suggested lowering European Central Bank interest rates further. The euro reached a three-week low against the dollar. The U.S. currency may be boosted by rebalancing at month-end and quarter-end.

The Australian dollar climbed after the government announced tax cuts and cost-of-living relief. Sterling rose as traders awaited the spring statement. British retailers reported a drop in sales volumes. Talks over a possible peace deal between Russia and Ukraine are being closely watched.

The U.S. reached deals with Ukraine and Russia on a truce in the Black Sea and a pause in attacks on energy facilities. Bitcoin fell slightly after reaching its highest price since March 7 on Monday.

Read more: Dollar dips as traders stay cautious on impending tariffs