US EditionTrump's tariff storm a threat to dollar's dominance?
- President Donald Trump's tariffs are raising questions about the US dollar's status as the world's key trading and reserve currency.
- Mark Sobel, a former senior US Treasury official, believes Trump is undermining dollar dominance and tarnishing the United States' reputation.
- Ryan Chahrour, a professor of economics at Cornell University, noted that the dollar's safe haven status appears to have temporarily shifted to the Swiss franc, yen, and gold.
- Sobel stated it is premature to say that dollar dominance is going away due to a lack of alternatives.
182 Articles
182 Articles
Traders Flee to Gold, Ditch Oil
Amid heightened uncertainty about trade and economies, gold prices have hit multiple record highs this year, while oil prices have slipped to four-year lows as concerns about global oil demand spiked with all the trade and tariff chaos. Gold hit another record high on Monday as the U.S.-China trade war escalated and the U.S. dollar weakened amid persistent fears of a recession. Gold, the safe-haven asset, has benefited from the market chaos, whi…
Gold reaches record price and the dollar falls to fears of tariffs
Gold prices reached a new record on Monday, while the dollar weakened even further in the midst of fears over US President Donald Trump’s tariffs and his dispute with the Federal Reserve (Fed). Concern over the global economic outlook led to higher investments in secure assets, bringing gold to a record $3,396.3. The valorization of precious metal was reinforced by the dollar’s weakness, hit by Trump’s dispute with Fed chief Jerome Powell.
Gold Hits New Record at More Than $3,400 Per Ounce
Spot gold prices broke the $3,400 per oounce barrier to hit a new high of $3,424.40 on Monday morning trade as a host of factors created uncertainty among investors, boosting the safe haven demand for the metal. Tariffs continue to rock markets. The Trump administration has imposed 25 percent tariffs on all imports from Mexico and Canada. For all other partners, a 10 percent baseline tariff and custom reciprocal tariffs have been instituted afte…
Dollar And S&P 500 Tumble, Gold And Bitcoin Rise As Cash Exits U.S. In Threat To Trump Agenda
Gold and bitcoin are rallying as foreign investors shun U.S. financial assets, S&P 500 tumbles. The post Dollar And S&P 500 Tumble, Gold And Bitcoin Rise As Cash Exits U.S. In Threat To Trump Agenda appeared first on Investor's Business Daily.
US stocks fall after Trump calls Fed’s Powell ‘a major loser’ for not lowering rates
US stocks dropped Monday as President Trump intensified his attacks on the Federal Reserve's independence -- calling chairman Jerome Powell "a major loser" for not lowering interest rates.
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