Defence stocks leap while dollar falls further, sparking talk that it could lose its safe-haven status
More on the dollar, which has slid by 0.7% against a basket of major currencies this morning.
Ricardo Evangelista, senior analyst at the broker ActivTrades, said:
The euro rose against the dollar in early Wednesday trading, building on the momentum gathered at the start of the week and reaching its highest level of the year. The dollar has been weakening across the board, with the index tracking its performance against a basket of major currencies down more than 4% since early February.
Traders have shifted from pricing in growth and inflationary pressures from Trump’s tariffs to anticipating a slowdown in the US economy as the country moves towards protectionism.
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