UBS: If Trump increases tariffs again, the dollar could fall

In a worst-case scenario, the U.S. could re-impose reciprocal tariffs that are currently suspended and the dollar could weaken, analysts at UBS Global Wealth Management said in a note. The 90-day tariff suspension ends on July 9. The most serious outcome would be the U.S. imposing previously announced higher tariffs on all trading partners without a trade deal, analysts said. The dollar could sell off against the euro, Swiss franc, Japanese yen and British pound. They added that less liquid currencies such as emerging market currencies would also fall.