The USD has reversed its earlier Trump auto tariff gains, EUR/USD back above 1.0760

The auto tariff news is here from Wednesday afternoon US time:

• Trump slaps a 25% tariff on all cars not made in the USA
• The USD has risen after Trump’s announcement of 25% tariff on all autos not made in USA
• Recap of Trump’s 25% auto tariff on foreign-made cars starting April 2nd

• Trump has allowed a one-month tariff exemption for auto parts imports

You’ll notice the second point, that the USD had risen. That has been reversed.

The USD is now lower vs, EUR and JPY. CAD has manged to bounce too, as has GBP. The moves for AUD and NZD are not as notable.

Is the impact of Trump tariff announcements wearing off?

This article was written by Eamonn Sheridan at www.forexlive.com.