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Barchart
Barchart
Rich Asplund

Dollar Falls and Gold Rallies on Tariff Risks

Donald Trump ECB Gold Rehn Stournaras United States Euro ECB Governing Council Goolsbee the European Union

The dollar index (DXY00) Friday fell by -0.87% and posted a 3-week low.  The dollar tumbled Friday after President Trump threatened a 50% tariff on goods from the European Union on June 1, saying, "Our discussions with them on trade are going nowhere."

The dollar was also pressured by comments from Chicago Fed President Goolsbee, who said Fed rate cuts are still possible over a 10-month to 16-month time horizon.  The dollar rose from its worst level today after US Apr new home sales unexpectedly rose to a 3-year high.

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