Euro bounces on expectations Trump will delay auto tariffs

Euro bounces on expectations Trump will delay auto tariffs

16 May 2019 09:39 AM
 
The euro was buoyant on Thursday as trade concerns eased on expectations that U.S. President Donald Trump will delay implementing tariffs on imported cars. Trump administration officials told Reuters on Wednesday that the president is expected to put off a decision on imposing tariffs on imported cars and parts by up to six months, for now preventing a further increase in transatlantic trade tensions. The euro was 0.05% higher at $1.1207, having bounced overnight from a one-week low of $1.1178. The single currency was initially hit as Italy's Deputy Prime Minister Matteo Salvini criticized European Union rules for the second day.

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