The Dollar Rebounded Today

The dollar recovered on Thursday, helped by positive labor market data and a White House statement saying Canada and Mexico and possibly other countries could be exempted from US import tariffs planned for steel and aluminum.

Elsewhere ahead of the European Central Bank meeting it is not expected to raise interest rates for now, but market participants may seek future economic policy guidance.

On Tuesday, the Dollar has weakened sharply following the resignation of Gary Cohn, the main White House economic adviser seen as seen as a bulwark against protectionism in the Trump cabinet.

His departure has diminished fears of a potential global trade war if US President Donald Trump continues to pursue tariffs on imports of steel and aluminum.

More broadly, financial markets grew more calm after losses were on Wall Street after the White House raised the possibility of tariffs. Some dealers are betting the possibility that tariff threats are a negotiating tactic in trade negotiations with neighbors.

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