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EUR risen strongly in Asia morning commerce after Trump tariff announcement unload earlier

Trump announced a 10% baseline tariff on all imports, with higher rates for major trading partners, including 34% on China and 20% on the EU.

‘Risk’ was slammed lower, with yen and gold benefitting.

EUR/USD trade under 1.0820 and has now recovered to above 1.0910 as I post.

This is only going to be a taste of the volatility to come in the hours ahead as more of Asia comes on line and then Europe/UK trade responds. I’d be wary of further upside from here.

Updates:

  • USD/JPY is around 147.90
  • gold is around US$3164

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