Stock Market LIVE Updates: Nifty around 25,300, Sensex down 220 pts; Glenmark Pharma up 10%, HUL up 2%, TCS falls 2%

The U.S. dollar rose on Friday on more signs of upheaval in the global trade landscape, as U.S. President Donald Trump announced more tariffs and said he planned to impose blanket levies of 15% or 20% on most trade partners.

Most currencies initially held to tight ranges early in the Asian trading session, though the dollar later gained ground on the back of Trump’s latest comments which added to the uncertainty around his evolving trade policy.

The Canadian dollar was among the biggest losers, falling more than 0.5% to 1.3726 per U.S. dollar after Trump announced a 35% tariff rate for goods imported from Canada, starting August 1.

Trump on Thursday also said the European Union could receive a letter on tariff rates by Friday, throwing into question the progress of trade talks between Washington and the bloc.

The euro fell 0.25% to $1.1671 and was headed for a weekly decline of nearly 1%.

The risk-sensitive Australian dollar also slipped 0.31% to $0.6568 as the overall market mood turned sour.

The Brazilian real was last little changed at 5.5321 per dollar, though was set to lose 2% for the week – its steepest weekly decline in nearly five months.

Elsewhere, sterling was down 0.22% at $1.3551, reversing slight gains from earlier in the session, and was set to lose more than 0.6% for the week.

The New Zealand dollar fell 0.32% to $0.6013 and the yen eased 0.13% to 146.44 per dollar.

The Japanese currency was headed for a weekly decline of more than 1%, after Trump slapped Tokyo with 25% tariffs earlier this week.