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Trump Announces Tariff Hikes on CN; USD/CNH Once Falls Below 7.27 Mark, Hitting 4-Mth Low
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US President-elect Donald Trump announced a 10% tariff increase on Chinese goods and a 25% tariff on imports from Canada and Mexico. The news heaped pressure on USD/CNH, which fell below the 7.27 mark at one point, hitting a four-month low. It last tumbled 206 bps to 7.2654. AUD/USD also dipped 0.62% to 0.6461, since China is Australia's largest trading partner, and the US tariff increase on China is expected to negatively impact the Australian economy. Following the tariff hike announcement, USD/CAD came under notable pressure. It last dropped 1% to 1.4134. USD/MXN even waned nearly 2% to 20.673. AAStocks Financial News |
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