Trump signs order ending US sanctions on Syria, Damascus welcomes move
U.S. President Donald Trump signed an executive order on Monday ending the U.S. sanctions programme on Syria, the White House confirmed....
The U.S. dollar has dropped to a three-month low amid growing concerns over slowing economic growth and the impact of new tariffs.
President Donald Trump’s recent move to impose a 25% tariff on goods from Mexico and Canada, along with a doubling of duties on Chinese products to 20%, took effect at 12:01 a.m. EST, weighing on the currency.
Despite expectations that increased tariffs might strengthen the dollar as fears of a trade war mount, weak domestic economic data and declining U.S. bond yields have kept the dollar under pressure. The U.S. dollar index, which tracks the currency against six major peers, fell 0.54% to 105.96, its lowest level since December.
Analysts noted that while tariffs are broadening to include more U.S. trading partners, soft domestic activity is hindering any potential rally. “While the U.S. is now broadening its tariff regime to Canada and Mexico, weak domestic U.S. activity is preventing the dollar from strengthening on the tariff news,” said Chris Turner, global head of markets at ING.
Investors have shifted to traditional safe-haven currencies such as the Japanese yen and Swiss franc, which saw gains of almost 1%, as uncertainty and fears of economic slowdown weighed on global markets. The Canadian dollar and Mexican peso also experienced modest declines following the tariff announcements, though market participants remain hopeful that the tariff hikes may be short-lived if negotiations lead to rapid relief.
In addition to these moves, China announced plans to impose further tariffs of 10-15% on certain U.S. imports starting March 10, while both Canada and Mexico have signaled retaliatory measures. The euro and sterling have risen as the absence of tariffs on European Union goods and a narrowing gap in bond yields have made them more attractive alternatives to the dollar. Meanwhile, U.S. 10-year Treasury yields fell to their lowest level since October at 4.115%.
Speculators have been betting on a continued rise of the yen, positioning themselves for potential interest rate hikes by the Bank of Japan, while China’s yuan has also seen a modest increase amid a strengthening bias in its daily official guidance.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
Thousands of protesters rallied in Bangkok on Saturday, demanding Prime Minister Paetongtarn Shinawatra resign as political and economic tensions mount.
Gold prices edged higher on Monday after slipping to their lowest level in more than a month, supported by a weakening U.S. dollar and easing geopolitical tensions that have tempered safe-haven demand.
The French Riviera town of Cannes will restrict large cruise ships from docking starting from January 2026, as part of new efforts to manage over tourism and protect local infrastructure.
Polish refiner Orlen will not buy Russian oil for its Czech refinery after 30 June, Chief Executive Ireneusz Fafara said on Monday. "We freed Central Europe from Russian oil today," Fafara stated.
Starting today, British car and aerospace manufacturers will benefit from significant tariff reductions when exporting to the United States, thanks to the implementation of a landmark UK-US trade agreement. This move is expected to safeguard thousands of jobs in the United Kingdom.
Oil prices fell on Monday as an easing of geopolitical risks in the Middle East and the prospect of another OPEC+ output hike in August improved supply expectations amid persistent uncertainty over the outlook for global demand.
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