US dollar crashes 1.6% as euro hits fresh 2022 high on tariffs - Breaking The News

US dollar crashes 1.6% as euro hits fresh 2022 high on tariffs

11 April

1 min read

EPA-EFE/TOLGA AKMEN

The US dollar tumbled on Friday, with the euro surging 1.58% to $1.1387, its highest level since February 2022. The move comes as markets reacted sharply to a wave of new tariffs introduced by US President Donald Trump.

The crash followed Trump's announcement of a 125% tariff on Chinese imports and a 90-day freeze on other trade duties, prompting investors to dump US assets amid growing uncertainty.

At 4:05 am ET, the euro jumped 1.58% to sell at $1.14170. At the same time, the dollar index was down 1.15% to 99.7406 points.

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