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Barchart
Rich Asplund

Dollar Weakens and Gold Surges on US Trade Uncertainty

Donald Trump Gold United States Keven Warsh Executive Order silver BOJ Chicago Fed Dallas Fed ECB

The dollar index (DXY00) on Monday fell by -0.10%.  The dollar is under pressure today on concern that foreign investors may shy away from dollar assets after President Trump signed an executive order raising global tariffs under Section 122 of the Trade Act of 1974 to 15% from 10% that he initially imposed after the Supreme Court last Friday struck down his global "reciprocal" tariffs. 

Losses in the dollar were limited after the Jan Chicago Fed National Activity Index and Feb Dallas Fed manufacturing outlook level of general business activity survey rose more than expected.  Also, Monday's equity market slump sparked some dollar liquidity demand.

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