Dollar moves higher against the yen as Trump announces tariffs

The dollar weakened against the euro and turned higher against the yen on Wednesday as US President Donald Trump began a long-awaited announcement of sweeping new tariffs that look certain to escalate a trade war with global partners, increase prices, and upend a decades-old trade order.

In late trade after Trump reiterated that the United States would impose 25% tariffs on foreign-made autos, the euro extended a rise to USD 1.0895, up 0.92%, while the dollar turned 0.38% higher against the yen to 150.20 yen.

(Reporting by Alden Bentley)