Forex News: U.S. Dollar Appreciates Amid Risk Aversion

U.S. Dollar Appreciates Amid Risk Aversion

(RTTNews) - The U.S. dollar advanced against its major counterparts in the New York session on Monday amid risk aversion, as President Donald Trump threatened to impose additional tariffs on China.

Trump announced additional 50% tariffs on China, if it does not lift its retaliatory duties.

"If China does not withdraw its 34 percent increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose additional tariffs on China of 50 percent, effective April 9th," Trump said in a Truth Social post.

U.S. stocks fell after the White House dismissed news that Trump is considering a 90-day pause in tariffs for all countries except China.

The greenback climbed to 4-day highs of 148.14 against the yen and 0.8674 against the franc, from an early low of 144.81 and more than a 6-month low of 0.8451, respectively. The currency is poised to challenge resistance around 153.00 against the yen and 0.90 against the franc.

The greenback rose to near a 5-week high of 1.2709 against the pound. If the currency continues its uptrend, 1.26 is possibly seen as its next resistance level.

The greenback advanced to a 5-year high of 0.5506 against the kiwi. The greenback may face resistance around the 0.535 level.

The greenback recovered to 1.0899 against the euro and 0.5944 against the aussie. In the previous session, the greenback touched a 4-day high of 1.0877 against the euro and a 5-year high of 0.5930 against the aussie. The currency is seen finding resistance around 1.06 against the euro and 0.58 against the aussie.

In contrast, the greenback fell to 1.4178 against the loonie, from an early 4-day high of 1.4295. The currency is seen finding support around the 1.37 level.

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