Mitsubishi UFJ: Dollar Not Yet Clearly Hit by Renewed U.S. Trade Uncertainty
2026-07-22 13:18:48
According to Jin10, Mitsubishi UFJ analyst Derek Halpenny said in a report that the dollar may still not be clearly affected in the short term by the latest round of U.S. trade uncertainty. He said U.S. President Donald Trump's new tariff plan should broadly replicate Section 122 tariffs due to expire on Friday, so the impact on exchange rates should be limited. He also said current market expectations for U.S. rate hikes and elevated Middle East risks have provided some support for the dollar. However, he said dollar selling could return if trade uncertainty becomes more apparent and investors grow more worried about unpredictable policy and damage to the U.S. economy.
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