The dollar has started the morning on a choppy note, possible due to Trump’s tweet yesterday. He stated that the US will impose a 5% tariff to all goods coming into the country from Mexico, on the 10th of June. This is an attempt to stop illegal immigration. The Mexican Deputy Foreign Minister has said that Mexico will respond ‘strongly’ if tariffs are imposed.
The dollar continued look sturdy yesterday, despite the ongoing US-China trade tensions. It still remained strong even as the Federal Reserve have suggested that there will be no more rate hikes for the rest of 2019.
It was also seemingly unaffected by the revised GDP figure, which showed gross domestic product to have increased at 3.1% in January to March, compared to the initially reported 3.2%.
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