The US dollar weakened against its peers on Thursday following President Trump's announcement of a 50% tariff on copper, effective from August 1, and a similar tariff on Brazilian goods. At intraday, the dollar fell by as much as 0.29%, reaching 97.27.

President Trump posted letters to his Truth Social platform Wednesday outlining tariff levels for seven countries. Trump said he would levy 30% tariffs on Libya, Iraq, and Algeria, effective Aug. 1. Moldova and Brunei will get 25% tariffs,

According to official notices posted on Truth Social by the US President, new import tariffs will take effect on August 1, impacting Algeria, Brunei, Iraq, Libya, Moldova, and the Philippines.