Trump dents the dollar and resources lead share prices south in Asia and Europe
London — Share prices fell in Europe and Asia on Monday and the dollar dipped against the yen after travel curbs introduced by Donald Trump stoked doubt about the new US president’s economic policies. A big mover among emerging-markets currencies was the rand, which fell 0.8% to R13.59 to the dollar after reports that President Jacob Zuma was considering a cabinet reshuffle. Earlier, the rand traded down 1.34%. Wall Street looked set for a weaker opening, with e-mini futures contracts on the S&P 500 stocks index down 0.2%. Signs of rising German inflation pushed yields on eurozone government bonds higher. French 10-year yields hit a 16-month high in early trade after an opinion poll showed loss of ground by conservative presidential election candidate Francois Fillon. Trump suspended travel to the US by people from Syria, Iraq, Iran and four other countries on national security grounds. The executive order, signed on Friday, triggered protests in US cities and raised concern among s...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.