{"id":2872,"date":"2025-08-01T10:51:00","date_gmt":"2025-08-01T06:51:00","guid":{"rendered":"https:\/\/omanet.om\/en\/news\/economy\/dollar-soars-on-new-levies\/"},"modified":"2025-08-01T17:27:30","modified_gmt":"2025-08-01T13:27:30","slug":"dollar-soars-on-new-levies","status":"publish","type":"post","link":"https:\/\/omanet.om\/en\/news\/economy\/dollar-soars-on-new-levies\/","title":{"rendered":"Dollar Hits New Highs After Levies Imposed: What This Means for Your Business and Investments"},"content":{"rendered":"<style>\r\n@keyframes hitv3sog-fadein{from{opacity:0;transform:translateY(14px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitv3sog-slideup{from{opacity:0;transform:translateY(20px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitv3sog-pulse{0%,100%{box-shadow:0 0 14px #dc262688}50%{box-shadow:0 0 32px #dc2626,0 0 60px #dc262655}}\r\n@keyframes hitv3sog-shimmer{0%,100%{opacity:0.3;transform:scaleX(0.4)}50%{opacity:1;transform:scaleX(1)}}\r\n@keyframes 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solid rgba(255,255,255,0.18);backdrop-filter:blur(8px);-webkit-backdrop-filter:blur(8px);border-radius:20px;padding:3px 10px 3px 7px;margin-bottom:clamp(5px,0.6vw,9px);animation:hitv3sog-badge 0.5s ease both;\"><span style=\"display:inline-block;width:6px;height:6px;border-radius:50%;background:#dc2626;flex-shrink:0;\"><\/span><span style=\"font-size:clamp(8px,0.9vw,10px);font-weight:700;letter-spacing:0.07em;color:rgba(255,255,255,0.88);text-transform:uppercase;white-space:nowrap;\">EXCLUSIVE OMAN OFFER<\/span><\/div>\r\n    <div class=\"hitv3sogh\" style=\"animation:hitv3sog-slideup 0.7s ease both;animation-delay:0.15s;\">Websites For <span style=\"color:#dc2626;\">Omani Businesses.<\/span><\/div>\r\n    <div class=\"hitv3sogs\" style=\"animation:hitv3sog-slideup 0.7s ease both;animation-delay:0.3s;\">Empower your brand with custom digital solutions designed for high conversion and market dominance.<\/div>\r\n    <div class=\"hitv3sogbl\"><div class=\"hitv3sogbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Responsive designs built for growth<\/span><\/div><div class=\"hitv3sogbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Fast loading with smart automation<\/span><\/div><\/div>\r\n  <\/div>\r\n  \r\n  <div class=\"hitv3sogct\">\r\n    <button class=\"hitv3sogbtn\" style=\"animation:hitv3sog-pulse 2.5s ease-in-out infinite;animation-delay:1s;\">Build Your Free Website <span style=\"opacity:.9;\">\u2192<\/span><\/button>\r\n    <div class=\"hitv3sogbr\">hit.land<\/div>\r\n  <\/div>\r\n<\/a>\r\n<\/div>\n<p><\/p>\n<p>LONDON \u2013 The U.S. dollar is set to record its strongest weekly performance in nearly three years against major global currencies, as it sustained momentum on Friday following President Donald Trump\u2019s implementation of new tariff rates on numerous trade partners.<\/p>\n<p>Currencies from the hardest-hit countries experienced sharp declines. Notably, the Swiss franc, facing a 39% tariff, dropped to its weakest level in six weeks. Meanwhile, the Canadian dollar is on track for its seventh consecutive weekly loss.<\/p>\n<p>The dollar\u2019s gains extend beyond tariff impacts. The Japanese yen is headed for its largest weekly loss of the year after the Bank of Japan indicated no immediate plans to raise interest rates. This prompted Finance Minister Katsunobu Kato to express officials\u2019 concerns over currency movements.<\/p>\n<p>Friday also brings the release of the monthly U.S. employment report, which is forecasted to show an addition of 110,000 jobs to the nonfarm payrolls in July.<\/p>\n<p>Much of the dollar\u2019s recent strength stems from investor confidence that the tariffs have not yet derailed the U.S. economy or significantly increased inflation. Despite President Trump\u2019s pressure on Federal Reserve Chair Jerome Powell to cut rates, the Fed has signaled no urgency to do so. According to IG strategist Chris Beauchamp, even a weaker payroll report may have limited impact on this outlook but could trigger some short-term selling of U.S. assets.<\/p>\n<p>\u201cFundamentally, the U.S. economy is stable\u2014not in great shape but holding up,\u201d Beauchamp said. \u201cTariffs will cause some pain, but the market may simply use weaker data as an excuse to take profits and wait for clarity.\u201d He added that \u201ca series of severe data would be needed between now and September to justify a rate cut at that time.\u201d<\/p>\n<p>The dollar index, which measures the currency against a basket of six others, is poised to rise 2.4% this week, marking its best weekly gain since a 3.1% rally in September 2022. It last traded up 0.1% at 100.13, its highest level since late May.<\/p>\n<p><strong>Tariff Impact on Currencies<\/strong><\/p>\n<p>The Swiss franc lost ground across the board, shedding its usual safe-haven status amid selloffs in stocks and commodities triggered by Trump\u2019s steep tariffs and his demand for pharmaceutical companies\u2014key Swiss exporters\u2014to lower prices for U.S. consumers.<\/p>\n<p>The dollar rose as much as 0.6% against the franc to 0.8173, a six-week high, while the euro gained 0.5%, trading at 0.932 francs.<\/p>\n<p>Though the yen remains a traditional safe haven, it was slightly stronger against the dollar on the day, with the dollar down 0.15% to 150.545 yen after earlier reaching its highest level since late March.<\/p>\n<p>The dollar also advanced against the Canadian dollar, which faced a 35% tariff instead of the initially threatened 25%, rising 0.13% to $1.38735.<\/p>\n<p>The euro lingered near an almost two-month low around $1.1408, pressured by market perceptions of an imbalanced trade deal with Washington.<\/p>\n<p>\u201cIn the short term, the dollar is likely to strengthen further,\u201d said Mike Houlahan, director at Electus Financial in Auckland. \u201cMost tariff-related news has already been priced in. The notable development this week has been the downward reassessment of the euro, largely due to the EU-U.S. trade deal posing a headwind.\u201d<\/p>\n<p>The EU\u2019s recently agreed framework trade deal with the U.S., announced Sunday, faced immediate criticism from French officials and the German chair of the European Parliament\u2019s trade committee, who described it as unfair to Europe.<\/p>\n<p><style>\r\n@keyframes hitl8gak-fadein{from{opacity:0;transform:translateY(14px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitl8gak-slideup{from{opacity:0;transform:translateY(20px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitl8gak-pulse{0%,100%{box-shadow:0 0 14px #dc262688}50%{box-shadow:0 0 32px #dc2626,0 0 60px #dc262655}}\r\n@keyframes hitl8gak-shimmer{0%,100%{opacity:0.3;transform:scaleX(0.4)}50%{opacity:1;transform:scaleX(1)}}\r\n@keyframes hitl8gak-glow{0%,100%{opacity:0.6}50%{opacity:1}}\r\n@keyframes 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solid rgba(255,255,255,0.18);backdrop-filter:blur(8px);-webkit-backdrop-filter:blur(8px);border-radius:20px;padding:3px 10px 3px 7px;margin-bottom:clamp(5px,0.6vw,9px);animation:hitl8gak-badge 0.5s ease both;\"><span style=\"display:inline-block;width:6px;height:6px;border-radius:50%;background:#dc2626;flex-shrink:0;\"><\/span><span style=\"font-size:clamp(8px,0.9vw,10px);font-weight:700;letter-spacing:0.07em;color:rgba(255,255,255,0.88);text-transform:uppercase;white-space:nowrap;\">EXCLUSIVE OFFER<\/span><\/div>\r\n    <div class=\"hitl8gakh\" style=\"animation:hitl8gak-slideup 0.7s ease both;animation-delay:0.15s;\">Your Website <span style=\"color:#dc2626;\">Should Sell.<\/span><\/div>\r\n    <div class=\"hitl8gaks\" style=\"animation:hitl8gak-slideup 0.7s ease both;animation-delay:0.3s;\">Custom-built websites with smart automation & AI-powered features.<\/div>\r\n    <div class=\"hitl8gakbl\"><div class=\"hitl8gakbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>SEO-optimized & lightning fast<\/span><\/div><div class=\"hitl8gakbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Smart features built for your business<\/span><\/div><\/div>\r\n  <\/div>\r\n  \r\n  <div class=\"hitl8gakct\">\r\n    <button class=\"hitl8gakbtn\" style=\"animation:hitl8gak-pulse 2.5s ease-in-out infinite;animation-delay:1s;\">Get Free Consultation <span style=\"opacity:.9;\">\u2192<\/span><\/button>\r\n    <div class=\"hitl8gakbr\">hit.land<\/div>\r\n  <\/div>\r\n<\/a>\r\n<\/div><br \/>\n<\/p>\n<p>Special Analysis by Omanet | Navigate Oman&#8217;s Market<\/p>\n<p>The U.S. dollar&#8217;s surge, driven by new tariffs and solid economic data, signals <strong>increased currency volatility and trade tensions globally<\/strong>. For Omani businesses, this creates both risks in import costs and opportunities in export competitiveness if the Rial remains stable. <strong>Smart investors should monitor USD movements closely and consider diversification to hedge against potential currency risk exposure<\/strong> in this turbulent trading environment.<\/p>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The dollar is set for its strongest weekly performance in nearly three years, boosted by new U.S. tariffs imposed by President Trump on many trade partners. The Swiss franc and Canadian dollar fell sharply, while the yen hit its largest loss this year after the Bank of Japan signaled no quick rate hikes. Despite tariff pressure, the U.S. economy remains stable, with a strong dollar and mixed market reactions.<\/p>\n","protected":false},"author":2,"featured_media":2873,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[482],"tags":[980,979,336],"class_list":["post-2872","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-currency-markets","tag-dollar-strength","tag-trade-tariffs"],"jetpack_featured_media_url":"https:\/\/omanet.om\/wp-content\/uploads\/2025\/08\/3086974.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/2872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/comments?post=2872"}],"version-history":[{"count":1,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/2872\/revisions"}],"predecessor-version":[{"id":2874,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/2872\/revisions\/2874"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/media\/2873"}],"wp:attachment":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/media?parent=2872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/categories?post=2872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/tags?post=2872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}