Libra moves lower in commercial war fears

Brussels (DPA -AFX) – The Libra fell against its most important counterparts in the New York session on Tuesday in the midst of concerns that the tariffs of the president of the United States Donald Trump could cause a slowdown in global growth.

Trump’s very threatened tariffs against Canada, Mexico and China entered into force today.

Trump imposed 25 percent tariffs on imports from Mexico and Canada and the 20 percent tax on Chinese products.

Canada announced 25 percent tariffs on US assets worth $ 107 billion, with $ 20.7 billion in effect immediately. Mexican President Claudia Sheinbaum said her country is preparing countermeasures.

China has announced 15 percent tariffs on chicken, wheat, corn and cotton in the United States, more rates of 10 percent of soy cents, pork, beef and dairy products from March 10.

The Libra weakened a minimum of 4 days of 188.25 against the YEN and a minimum of 1 week of 1,1298 against Franc. It is likely that the currency prevents support around 185.00 against Yen and 1.11 against Franc.

The pound decreased to a minimum of 6 days of 0.8287 against the euro and remained stable thereafter. The currency is prepared to challenge support around the level of 0.84.

In contrast, the Libra rose to a maximum of 3 months of 1,2753 against the Back Greenback. If the currency continues its upward trend, 1.30 may look like its next level of resistance.

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