Currency Traders Yawn As Tariff Threats Continue
Currency markets remain firmly rangebound even after President Donald Trump warned “no extensions will be granted” to his August 1 tariff date, threatened to raise levies on copper and pharmaceutical imports to 50 percent and 200 percent, respectively, and said at least seven additional countries would receive updated trade letters this morning, with the European Union getting one in two days. Stock futures are little changed, Treasury yields are flat, and US copper futures are holding around 10 percent higher after punching upward in yesterday’s session. The dollar climbed earlier in the week when Trump postponed the rollout of his...