The Wall Street Journal reported early Wednesday that the Trump administration is preparing an executive order to bolster US shipbuilders and cut Chinese dominance of the global maritime industry.
EUR/USD pinned the gas pedal on Tuesday, surging 1.4% and climbing 140 pips in a single session as markets sell off the US Dollar and bet that US President Donald Trump will find a reason to walk back his own tariff threats.
The USD/JPY advances some 0.17% late during the North American session, yet it remains shy of the 150.00 figure after slumping to a new year-to-date (YTD) low of 148.09.
US Commerce Secretary Howard Lutnick, during a televised interview on Fox News, hinted that US President Donald Trump may be preparing to pivot on his own tariffs less than 48 hours after imposing them.
Gold price climbs amid a soft US Dollar (USD) as the trade war between the United States (US), Canada, Mexico and China escalates with new tariffs taking effect on Tuesday.
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