Currency – The dollar remains stable, while the markets digest the news

The dollar remains stable, while the markets digest the news

The u.s. dollar was stable against a basket of other currencies on Monday as traders digested the potential imposition of taxes on the import of aluminum and steel.

The tariff policy of the american president Donald Trump on the steel and aluminum has raised concerns among global investors, the administration has stressed over the weekend that there would be no exclusion for any country.

The dollar has slipped since Trump has announced the tariffs last Friday.

The index dollar, which measures a basket of six major currencies was little changed at 89.93 at 05:15 a. m. AND (09:15 GMT).

The euro was little changed, with the EUR/USD 1.2321 while the GBP/USD gaining 0.11% to 1.3815.

The markets are also restless after the Italian elections have ended on Sunday, with no real progress and none of the three parties who won the majority.

On a more positive note, the Social Democratic Party of germany (SPD) voted on Sunday for a coalition with chancellor Angela Merkel, bringing to an end two months of political uncertainty. The new government could be put in place in less than two weeks.

In England, figures have shown that activity in the services sector accelerated last month.

Elsewhere, the yen and the swiss franc are progressing, with the USD/JPY down 0.18% to 105.56, while the USD/CHF sliding 0.14% to 0.936.

The aussie and the kiwi declined, with the AUD/USD down 0.18% to 0.778, while the NZD/USD lost 0.14% to 0.7219.

In the meantime, the USD/CAD down 0.09% at 1.2892.

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