Tariff Confusion Leaves Currency Markets Rudderless
The US dollar is inching higher against most of its rivals—with the exception of the safe-haven Swiss franc—as investors monitor signs of an impending economic slowdown amid deepening uncertainty over the Trump administration’s tariff plans. Benchmark ten-year Treasury yields are holding just below the 4.3-percent threshold after fully unwinding their post-election gains, North American equity futures are setting up for an almost-unchanged open, and foreign exchange rates are displaying signs of broad-based risk aversion. The Canadian dollar and Mexican peso are almost unchanged after President Trump appeared to say that levies on the two countries would take effect on April...