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The dollar drifted lower on Monday after an early bump off a three-year low, as investor confidence in the world’s reserve currency remained in question following a stream of tariff-related pronouncements from US President Donald Trump.Investors braced for another volatile week as Trump’s imposition and then abrupt postponement of tariffs on goods imported to the US continued to sow confusion.The dollar reversed early gains as the Asian trading session got under way, languishing near a 10-year low against the Swiss franc at 0.8188.Sterling held to most of its 1.7 per...

The US dollar has been the anchor of the global financial system for decades now. But in recent weeks, market behaviour has started to tell a different story. As President Donald Trump continues to double down on tariffs and policy threats, capital is beginning to move elsewhere. What used to be as the safe haven currency is now treated as a liability. And while investors are losing their confidence in the dollar, the euro is moving in the opposite way. You don’t usually see that outside of wars or financial crises. But now,...

Kimbal Musk, Tesla (NASDAQ:TSLA) board member and brother of CEO Elon Musk, has gone public with sharp criticism of President Donald Trump’s trade policies, calling tariffs a “structural, permanent tax on the American consumer” and accusing Trump of celebrating economic self-sabotage. “Mmm.. Celebrating causing China’s stock market to go down, by causing our own stock market to go down? Maybe this is why Trump brought back the R word.” Kimbal posted on X, in response to a message from Trump touting the impact of U.S. tariffs. UNLOCKED: 5 NEW TRADES...

Sign up for the Slatest to get the most insightful analysis, criticism, and advice out there, delivered to your inbox daily. Following President Donald Trump’s announcement of global tariffs during his April 2 “Liberation Day” speech, stock markets around the world plunged sharply. The S&P 500 suffered its most significant one-day drop since the COVID-19 pandemic, while the Dow Jones Industrial Average fell 1,500 points on back-to-back days, marking the steepest decline in its 127-year history. Then on Wednesday, Trump partially backtracked, pausing certain tariffs for 90 days (with the...

Stock market uncertainty from President Donald Trump’s tariffs has even casual investors anxiously watching the VIX, commonly called Wall Street’s panic index or fear gauge.The Chicago Board Options Exchange Volatility Index – known as VIX – measures market expectations of stock price changes over the next 30 days, according to Cboe Global Markets, which manages the index.Investors use it to anticipate how stocks will react in stressful economic times, including those caused by tariffs. If VIX activity goes up, the stock market will probably go down.On April 7, the index...

BENGALURU: Asian currencies rose against the dollar on Friday as US President Donald Trump’s tariffs on trading partners prompted a rush out of the world’s reserve currency, though stocks remained subdued on lingering tariff concerns. The US dollar index fell below 100 against a basket of major units for the first time since July 2023 as investors ditched US assets for other safe-havens like the Swiss franc, yen, euro and gold. Singapore’s dollar firmed to its highest level in more than five months, while Malaysia’s ringgit appreciated by 0.7%. The...

President Trump’s tariff regime has rocked investor confidence in what has long been considered not only a safe bet for investors, but a bedrock of the American economy: US Treasury bonds. The longstanding perception that Treasurys are a “risk-free” place to park money — a perception that has long been crucial for the US government, businesses and consumers alike to keep borrowing costs low — is being eroded as Wall Street struggles to make sense of Trump’s strategy, according to experts. “Put simply, the US long-bond rate — the Treasury...

Donald Trump bragged that his friend and investor Charles Schwab made two billion dollars from the current stock market chaos.In a video posted to X on Wednesday, 9 April, the president introduced NASCAR drivers to the founder and chairman of Charles Schwab Corporation, a multinational financial services company.“It’s not just a company, it’s actually an individual,” Trump told the racing drivers.The president added that Schwab “made two and a half billion today” from the stock market.The market has experienced dramatic fluctuations since Trump announced historic reciprocal tariffs on foreign nations...

Currency volatility across the region has jumped ever since the larger-than-expected new US tariffs were announced last week. (EPA Images pic) BEIJING: President Donald Trump’s US tariff whiplash and the Chinese yuan’s trajectory will likely keep Asian currency volatility elevated. Currency volatility across the region has jumped ever since the larger-than-expected new US tariffs were announced last week, while foreign currency options signal increased bearishness. Concerns over economic growth have also driven more aggressive bets that regional central banks will cut interest rates. Uncertainty could remain high, even as Trump...

U.S. stocks extended their retreat into Thursday afternoon trading, while Treasury yields moved and the dollar resumed its recent slump, as global markets continued to react to the dramatic tariff U-turn unveiled yesterday by President Donald Trump. Updated at 2:27 PM EDT Gold roared back to a fresh record high in late-morning trading, with spot prices rising 2.72% to $3,171.49 per ounce, taking the bullion's year-to-date advance to around 20%. Spot prices were last marked at around $3,164.50 per ounce. The moves suggest investors are shunning the U.S. dollar as...