Dollar Climbs Higher
2025-03-23
3151
(fxcue news) - The U.S. dollar climbed higher, and firmed against most of its major counterparts on Monday, as investors noted preliminary readings on U.S. manufacturing and services sector activity, and assessed the potential impact of Trump's tariffs on global economic growth.
A report from the Wall Street Journal said Trump is narrowing his approach to the tariffs, likely omitting a set of industry-specific tariffs.
Bloomberg also said Trump's coming wave of tariffs is poised to be more targeted than the barrage he has occasionally threatened, citing aides and allies.
the S&P Global US Composite PMI rose to 53.5 in March, climbing up from February's 10-month low of 51.6, a flash estimate showed. While the Manufacturing PMI fell to 49.8 in March from 52.7 in February, the Services PMI rose to a three-month high of 54.3 in March, from 51.0 in February.
The dollar index, which climbed to 104.44, pared some gains subsequently, but still remained firm at 104.30, up 0.21% from previous close.
Against the Euro, the dollar firmed to 1.0803. Against Pound Sterling, the dollar eased slightly to 1.2923.
The dollar climbed against the Japanese currency, fetching 150.68 yen a unit. Against the Aussie, the dollar weakened to 0.6287.
The dollar was roughly flat against Swiss franc at CHF 0.8831. Against the Loonie, the dollar gained ground, trading at C$ 1.4318.
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