The US dollar slid on Friday (Saturday AEST), extending this year’s losses to over 7 per cent, after President Donald Trump threatened steep new tariffs on the European Union and revived investor concerns over global trade policy. (The Australian dollar rallied more than 1 per cent.)
The Bloomberg Dollar Spot Index fell as much as 0.6 per cent, approaching the lowest level since December 2023. Trump floated a 50 per cent tariff on EU goods, citing lack of progress in discussions. That curbed the euro’s advance against the greenback, which is already under strain from fiscal and policy uncertainty.
