Key Facts
• July 7, 2025: Trump announces new tariffs on Japan, South Korea, and others.
• Tariffs to take effect on August 1, 2025.
• US dollar rises 1.09% against the yen, reaching 146.130 yen.
• Dollar gains 0.38% against the Swiss franc, trading at 0.798 francs.
• Euro drops 0.57% to $1.172, reversing a 13% year-to-date gain.
• Dollar index climbs 0.517% to 97.467, a one-week high.
• British pound falls 0.26% to $1.362, near its highest level since October 2021.
• Australian and New Zealand dollars drop 0.79% and 0.74%, respectively.
• Forex expert Brad Bechtel notes tariffs’ significant impact on non-dollar currencies.
• EU-US trade negotiations face delays, raising concerns among investors.
Summary
The US dollar surged in the New York forex market following President Donald Trump’s announcement of new tariffs targeting Japan, South Korea, and other nations, effective August 1, 2025. The dollar gained 1.09% against the yen and 0.38% against the Swiss franc, while the euro fell 0.57% to $1.172. The dollar index reached a one-week high of 97.467. Forex expert Brad Bechtel highlighted the tariffs’ significant impact on non-dollar currencies. Meanwhile, delays in EU-US trade negotiations have fueled investor concerns. The British pound and risk-sensitive currencies like the Australian and New Zealand dollars also saw declines.
