BRICS currencies weaken, dollar strong after Trump threatens tariffs
Investing.com-- Currencies of countries under the BRICS bloc weakened on Monday, while the dollar firmed after U.S. President-elect Donald Trump threatened to impose steep tariffs on the bloc over its attempts to pivot away from the greenback.all weakened between 0.1% and 0.5% in Asian trade, while trading in other currencies was still closed for the weekend.
Trump said he would seek commitments from the bloc towards the dollar and that it will not create any new currencies to rival the greenback. Trump’s recent tariff threat comes after he threatened to impose additional tariffs on China over the alleged flow of illicit drugs into the U.S.. The President-elect has also vowed to impose a blanket 10% tariff on all U.S. imports, and has flagged a largely protectionist stance towards trade and immigration.
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