The dollar is under pressure due to the trade war of President Trump

Brown Pradesh Hariman analysts have warned that the dollar is under pressure again, affected by the escalation in the trade war launched by US President Donald Trump.
On Wednesday, the dollar fell due to the recent developments in the White House’s commercial attack, and the dark expectations of the Federal Reserve Chairman Jerome Powell on the prospects of the US economy.

About 19.30 GMT, the dollar fell by 1.14% against the euro to 1.1413 dollars, and 1.28% against the Swiss franc to $ 1.2302.

The dollar index, which compares the American currency, decreased with a basket of other major currencies, below the level of 100 points, losing 0.90% to 99.32 points.

Stress on the dollar

The price of the US dollar was also affected by the statements of the President of the Federal Reserve, Jerome Powell, who said that Trump’s customs duties put the institution in a complex situation that is difficult for us on Monday.

The American Federal Reserve seeks to balance the containment of inflation by 2% at an annual rate in the long run and provide favorable conditions for full employment.

“The customs duties will undoubtedly lead to a temporary rise in inflation at least” with the possibility of “the continued inflationary effects,” Powell said during an organized event at the Chicago Economics Club.