1307 GMT - MFS Investment Management favors the euro following U.S. President Trump's announcement of sweeping tariffs this week. It no longer believes the U.S. dollar can benefit from safe-haven flows because of a potentially severe shock to the U.S. economy. "Given that higher tariffs act as a tax on consumption, the U.S. consumer will likely suffer the brunt of the macro shock, with major repercussions for the growth outlook," the MFS Market Insights Team says in a note on the impact of the tariffs. "With that in mind, our investment team continues to be constructive on the euro." The euro is last down 0.1% at $1.1041, having hit a six-month high of $1.1148 on Thursday, according to FactSet. (jessica.fleetham@wsj.com)
(END) Dow Jones Newswires
April 04, 2025 09:07 ET (13:07 GMT)
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