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Stocks Rise as Beijing Bites Back With 125% Tariff on U.S. Goods

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6 days ago

Dollar Hits 3-Year Low Against Euro. The Bottom Isn’t Clear.

By

Adam Clark

The dollar was falling to multiyear lows early Friday. It’s a sign of market wariness about U.S. assets amid tariff uncertainty and it’s not clear when the slump might end.

The DXY Dollar Index, which measures the greenback against a basket of major currencies, fell to 99.20, sliding to a 10-year low against the Swiss franc and a three-year low against the euro.

“The dollar collapse is working as a barometer of 'sell America' at the moment. The rotation to other traditional safe-havens like CHF [the Swiss franc], the Japanese yen or even the euro is justified by the loss of USD safe-haven appeal,” wrote ING analyst Francesco Pesole in a research note.