Economic news

Dollar dragged down by U.S. trade protectionism concerns

The dollar continued to slide on Wednesday after the top economic adviser to U.S. President Trump administration Gary Cohn announced his resignation, triggering worries Mr. Trump would go ahead with his plan to impose steep tariffs on steel and aluminum.

Photo: Reuters

The greenback slumped to as low as 105.45 yen, near Friday’s 16-month trough of 105.24.

The dollar slipped 0.3 percent versus the safe-haven Swiss franc, to 0.9379 franc.

The euro jumped to a two-week peak of 1.2429 and last traded at $1.2412, extending its surge into the fifth session.

The won leaped 0.6 percent to 1,069.20 a dollar.

The Australian dollar lost 0.3 percent to 78.04 U.S. cents.


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