The recent development of trade tariffs has shocked the markets in the last few days, initially being pushed on Canada, Mexico and China. The most recent developments is including the Euro zone, with Trump mentioning that trade tariffs will be implemented there too.
We did see fluctuations to the EUR during Monday, with GBP/EUR taking advantages breaking above the 1.20-mark and shown resilience holding that level moving into Tuesday. While EUR/USD saw big swings on the initial news, the market has rebound back into the 1.03-region.
The news regarding trade tariffs is far from over and will continue. This is causing major swings to USD-pairs, making it very vital for anyone have exposure to transfer into USD or sell off USD into other currencies to make sure the timing is correct. Noticing swings from high and lows in the day of 1%.
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