Dollar softens as policy uncertainty climbs
Equity markets are lower and the dollar is weaker against all of its major counterparts after the US cycled through four different tariff frameworks between Friday morning and Saturday afternoon, underscoring the policy uncertainty facing the world’s largest economy. After the Supreme Court struck down President Trump’s use of the International Emergency Economic Powers Act, he moved to replace the measures with a flat-rate 10 percent levy on all US imports under Section 122 of the Trade Act of 1974, which he then raised to 15 percent on Saturday. The new tariff, which is set to take effect tomorrow and...