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Trump may dust off 1930 trade discrimination law to back reciprocal US tariffs
Section 338 precedes Most Favored Nation tariff systemLaw allows 50% tariffs for countries discriminating against US commerce Trump has favored tools that allow immediate tariffs in new termBy David Lawder WASHINGTON, Feb 12 (Reuters) - President Donald Trump is likely to dust off a 1930 trade la...Reuters
Wed, Feb 12
EUR/JPY rallies to one-week top, further beyond 159.00 amid notable JPY weakness
The EUR/JPY cross builds on this week's solid recovery move from the vicinity of mid-155.00s, or the lowest level since August 2024, and gains strong follow-through positive traction for the third straight day on Wednesday.
Fxstreet
Wed, Feb 12
Australia dollar tests major resistance, kiwi less fortunate
SYDNEY, Feb 12 (Reuters) - The Australian dollar was testing a major resistance level on Wednesday as the tariff-driven rally in the greenback took a breather, while the kiwi was less fortunate amid expectations of more policy easing from its central bank. Much is riding on a U.S. consumer...Reuters
Wed, Feb 12
BUZZ-COMMENT-INR a one-way bet no more as RBI comes down hard
Feb 12 (Reuters) - The Reserve Bank of India's aggressive intervention to shore up the Indian rupee this week has rattled complacent traders betting on a one-way decline in the currency.The INR rallied to 86.50 on Tuesday, a 1.7% rise from Monday's all-time low of 88.00 on the Reuters dealin...Reuters
Wed, Feb 12
BUZZ-Little new in BOJ Gov Ueda Diet testimony today
Little new in BOJ Gov Ueda Diet testimony todayReiterates achievement of 2% inflation target main focusPace of monetary policy "adjustment" will be data-dependentUeda said BOJ monitoring impact of US tariff and other policiesAs with the Fed being data-dependent on cuts, BOJ same on hikesJGB ...Reuters
Wed, Feb 12
BUZZ-USD/JPY on bid side with US yields but still sub-152
USD/JPY better bid with US yields but still below 152.00Asia 152.45-95 EBS so far, holding in area of 152.74 200-DMAAscending 100-DMA 153.14, daily Ichimoku cloud 153.60-155.62 aboveMost hourly resistance levels cleared except 153.21 descending 200-HMATokyo back after holiday yesterday, Japanese imp...Reuters
Wed, Feb 12
