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Barchart
Rich Asplund

Dollar Finishes Higher on Tariff Woes and Geopolitical Risks

Donald Trump ECB US Federal Reserve Volodymyr Zelenksyy Canada Gold Mexico United States China Euro

The dollar index (DXY00) Friday rose by +0.35% and posted a 2-week high. The dollar climbed Friday on positive carryover from Thursday when President Trump said that the proposed 25% tariffs on Canada and Mexico will go into effect on March 4, and China will likewise be charged an additional 10% tariff on that same date.  The dollar raced to its high Friday after a meeting between President Trump and Ukraine President Zelenskiy ended in argument and was canceled as peace talks stalled to end the Ukraine-Russian conflict. 

Bearish factors for the dollar were the US Jan personal spending report that unexpectedly declined and the Jan core PCE price index, the Fed’s preferred inflation gauge, that met expectations, dovish factors for Fed policy. 

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