The US dollar was traded in a narrow scope against the main currencies in foreign exchange transactions in the early New York, according to the Associated Press via Yahoo financing. Market participants were holding the potential economic effects of definitions proposed by US President Donald Trump, with a special focus on the euro and Chinese yuan.
Also read: The US dollar is returns while Trump declares a new trade tariff
Data from the Indexbox platform indicate that the proposed definitions can significantly affect import volumes in the United States across many major sectors. It is expected that the sectors of machinery and electrical equipment, which are among the higher categories of American imports, are expected to see a possible decrease in value if new trade policies are implemented.
Source: Indexbox Market Intelligence
