Dollar moves higher against the yen as Trump announces tariffs

(Reuters) – The dollar weakened against the euro and turned higher against the yen on Wednesday as U.S. 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 the United States would impose 25% tariffs on foreign-made autos, the euro extended a rise to $1.0895, up 0.92%, while the dollar turned 0.38% higher against the yen to 150.20 yen. (This story has been corrected to fix the headline and text to say that the dollar extended a gain against the yen, not turned higher)

(Reporting by Alden Bentley)