Forex News: U.S. Dollar Rises Amid Tariff Concerns

U.S. Dollar Rises Amid Tariff Concerns

(RTTNews) - The U.S. dollar advanced against its major counterparts in the New York session on Wednesday amid ongoing uncertainty about President Donald Trump's tariff plans.

Trump said during an interview with Newsmax on Tuesday that new tariffs would "probably be more lenient than reciprocal," because reciprocal tariffs would be "very tough for people."

However, while Trump also said there would be exceptions to the tariffs, he noted there would be "not too many exceptions."

In U.S. economic news, the Commerce Department released a report showing an unexpected increase by new orders for U.S. manufactured durable goods in the month of February.

The Commerce Department said durable goods orders climbed by 0.9 percent in February after spiking by an upwardly revised 3.3 in January.

Economists had expected durable goods orders to slump by 1.0 percent compared to the previously reported 3.2 percent surge.

The greenback climbed to a 3-week high of 1.0751 against the euro and a fresh 2-week high of 1.2873 against the pound. The greenback may face resistance around 1.03 against the euro and 1.24 against the pound.

The greenback edged up to 0.8847 against the franc and 150.74 against the yen. The currency is poised to challenge resistance around 0.92 against the franc and 152.00 against the yen.

The greenback recovered to 0.6288 against the aussie, 0.5726 against the kiwi and 1.4296 against the loonie, from an early 6-day low of 0.6330, 5-day low of 0.5762 and more than a 4-week low of 1.4235, respectively. The currency is seen finding resistance around 0.61 against the aussie, 0.55 against the kiwi and 1.44 against the loonie.

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