The euro Ukraine jumps at a height of five months on expectation for ceasefire; Canadian dollar rebound after trump tariff

The Euro hits a five -month high after the Euro agrees to the Ukraine’s ceasefire

Canadian dollar rebound slaps the new tariff after Trump

Dollar index on track for 7-day lost line

By Chibuike Oguh and Yadarisa Shabong

The Euro hit a five-month height on Tuesday after Ukraine agreed to the 30-day ceasefire proposal, while Canadian US President Donald Trump reached the dollar a week before the dollar weakened against the Canadian dollar following an additional tariff in Canada.

Trump doubled its planned tariff on all steel and aluminum imports from Canada when Ontario province imposed 25% tariff on the power sent to the US.

An immediate 30-day ceasefire breaks in a conflict with Russia during a conversation with US authorities in Saudi Arabia. US State Secretary Marco Rubio said that he would now propose to Russians, and that the ball is in Moscow court.

European single currency was trading at a month high since last week on hopes of increasing defense spending in Germany, the largest economy in the continent.

The US dollar rose to C $ 1.4521 against Canadian dollar, the highest since March 4. It later lost the ground and trading below 0.28% to C $ 1.4396.

Euro increased as $ 1.0947, a level seen in October in October. It was the previous 0.86% and has obtained more than 5% this month. Following the Ukraine’s ceasefire agreement, after Ukraine’s agreement, the Euro jumped to its highest since January. It was 1.29% on 161.57 yen.

Increased European defense spending and a ceasefire probability of a ceasefire in Ukraine is positive for Euro, said Juan Perez, director of Trading at MonX USA. “Adding the ceasefire, even if it is just for a month, and the idea that can actually be something solid between Russia and Ukraine, is an excellent signal for the euro.”

The US dollar remains weak against its major colleagues as the concerns of trade and development weigh on greenback.

Wall Street’s main index, benchmark S&P500, Nasdaq and Dow ended on Tuesday.

Against Swiss Frank, the dollar grew 0.1%, but is 2.42% below for the month. Against the Japanese Yen, the dollar grew 0.31%. Greenback has lost 1.93% against Yen so far in March.

The dollar index, which measures greenback against a basket of currencies, including yen and euros, was on the track for its seventh straightforward damage. It fell 0.57% to 103.27.

Steve England, a global head of G10 FX Research and North American Macro Strategy at the NY branch of Standard Chartered Bank, said, “Whatever was insecure is looking weak: German yields are going up and the American equity looks soft,” G10 FX Research in NY Branch of Standard Chartered Bank and North American Macron Macro Stepper in NY Branch England said.

This article was generated from an automated news agency feed without amending the text.