Thursday, September 24
The dollar strengthened to a more than two-week high against the yen on Wednesday as U.S. President Donald Trump pledged more trade-related proclamations after announcing 25% tariffs on Japan and other trade partners. The greenback advanced against major peers on Tuesday after Trump's latest threats of tariffs that are now due to start on August 1, but he later said he was open to extensions if countries made proposals. As the trading day in Asia began, Trump said on social media that there would be announcements on Wednesday regarding "a minimum of 7 countries having to do with trade," without specifying whether the notices would be about deals or more letters explaining the tariff terms. The dollar index, which measures the greenback against six major peers, is still down more than 6% si
Copper prices on the London Metal Exchange and the Shanghai Futures Exchange slipped on Wednesday as the announcement of U.S. copper tariffs signalled an end to a months-long arbitrage trade that had drawn the metal from global markets. U.S. President Donald Trump said on Tuesday he would announce a 50% tariff on copper, sending U.S. Comex copper futures up more than 12% to a record high. U.S. Commerce Secretary Howard Lutnick said shortly afterwards the copper tariffs would likely be in place by the end of July or August 1. "The announcement is like a loud thunder in the middle of the night, very sudden, and a 50% tariff is much higher than the expected 25%," said a Beijing-based metals analyst, who is not authorised to speak to media. Since the tariff investigation was announced in Febru
