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Currencies: Dollar rises by the most against yen in 11 weeks amid renewed Trump tariff angst

The U.S. dollar on Wednesday strengthened broadly against most of its major rivals—notably against the Japanese yen— following fresh consternation over President Donald Trump’s clashes with major trading partners and allies across the globe.

The U.S. late Tuesday said it would assess 10% tariffs on a further $200 billion in Chinese goods. The move is seen as exacerbating tensions with Beijing and sending a message to other trading partners that the U.S. won’t back down in a trade fight. A final decision on the products to be hit with the new tariffs is expected after a consultation period in late August, but the latest move further highlights Trump’s protectionist trade posture that has rattled global markets and driven investors to the perceived safety of U.S.

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