Breaking: Trump has yet to agree to a tariff rollback, trade deal uncertain,USD/JPY plunges

Yohay Elam FXStreet

US President Donald Trump has yet to decide on rolling back the accumulated tariffs. He says that China wants him to do that. The president repeats his stance that the world's second-largest economy would like to make a deal.

Safe-haven assets are on the rise, with USD/JPY falling off the highs. AUD/USD has extended its falls, amid the risk-off mood.

Here is the move on the dollar/yen chart:

Headlines related to US-Sino trade relations have been rocking markets in the past few days. Presidents Trump and Xi Jinping were set to meet on the sidelines of the APEC Summit in Santiago. However, the Chilean government called off the event, and a new venue has yet to be agreed. The White House has reportedly offered Iowa.

Gao Fend, China's Commerce Minister, stated that levies would be rolled back with every phase of the trade deal. However, Trump's announcement shows that both sides are far from cutting a deal.

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

EUR/USD holds above 1.1800 after German sentiment data

EUR/USD stays in positive territory above 1.1800 on Monday after the data from Germany highlighted a modest improvement in business sentiment in February. Meanwhile, the US Dollar stays under pressure amid growing unceratinty surrounding the US trade regime, allowing the pair to hold its ground.

GBP/USD rises toward 1.3550 as tariff confusion slams USD

GBP/USD extends the advance toward 1.3550 on Monday. The US Dollar faces intense selling pressure as tariff uncertainty lingers following US President Trump's latest announcement. Traders will take more cues from the broader market sentiment and central bank talks.

Gold climbs above $5,100 on broad USD weakness

Gold sticks to its bullish bias near the monthly above $5,100 on Monday. Renewed trade-war fears, along with rising geopolitical tensions in the Middle East, turn out to be key factors that underpin the safe-haven precious metal and validate the constructive outlook.

Cardano braces for impact as US tariff storm brews

Cardano is down 4% at press time on Monday, entering its third consecutive day of decline. Bearish bias in Cardano’s derivatives market positional buildup aligns with rising pressure on the broader cryptocurrencymarket amid US President Donald Trump's reassessment of global tariffs and domestic conflict with the US Supreme Court.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

Top Crypto Losers: Zcash, Pump.fun, and LayerZero extended losses as Bitcoin loses $65,000

The cryptocurrency market starts the week in panic mode, with altcoins Zcash, Pump.fun, and LayerZero. Bitcoin falls below $65,000 as the US President Donald Trump regroups amid renewed trade policy risks.