The US dollar has posted just slight changes vs the majors on March 6 and stays near the weekly bottom. The market remains somewhat confused with the Trump's announcement of import duty imposition.
According to the news reports, the US President Donald Trump faced heavy critics after making a proposal to set import duty on steel and aluminum. Donald Trump commented yesterday that this proposal can remain just intentions if Mexico and Canada accept the new NAFTA agreement.
For reference, the market was covered by the wave of concerns last week once Trump made that announcement about the import tariff lift. Insiders feared that this move could provoke a trade war affecting US economy.
The US Dollar index was seen at 89.63.
The euro and sterling to US dollar rate went up to some 1.2393 and 1.3897 respectively.
In Europe, the market remains unstable since the Italian elections failed to clear up the situation. Specifically, none of the parties got the majority in the Parliament after the elections held in Italy last weekend. This means that Italy can fall into long-lasting political instability.
The US dollar to yen dropped to 106.07. The greenback to franc was recorded at 0.9383.
The AUD-USD and NZD-USD pairs hiked to 0.7818 and 0.7300 respectively. Today the Reserve Bank of Australia has left interest rate at record low level, though the Bank was not so confident of 3% economic upturn this year. As a result, the possible upward revision of the interest rate coming months became less real.