Dollar falls, Euro jumps, as Trump relents on EU tariff threat

Singapore: The US dollar index, which tracks the currency against six major rivals, sank 0.3% to 98.813, while the euro jumped along with risk sensiti...

Singapore: The US dollar index, which tracks the currency against six major rivals, sank 0.3% to 98.813, while the euro jumped along with risk-sensitive currencies like the Australian dollar on Monday after President Donald Trump backed down from threatened 50% duties on European Union shipments from June . The euro climbed as much as 0.55% to reach $1.1418 for the first time since April 29. The Aussie jumped 0.58% to $0.6537, a level not seen since November 25. The New Zealand dollar soared 0.75% to the highest since November 7 at $0.6031. Sterling advanced as much as 0.38% to scale its highest level since February 2022. The safe-haven yen and Swiss franc were overall weak as market sentiment improved, but they still appreciated against the embattled US dollar. The greenback slipped as much as 0.24% to 142.23 yen , the lowest level this month, and edged to a 2-1/2-week low of 0.8193 franc.