“US Commerce Secretary Gina Raimondo said on Thursday the Biden administration was examining whether providing exclusions from tariffs inherited from the previous administration was a way to ease inflation,” Reuters quotes the diplomat’s comments on CNBC interview during late Thursday.

Key quotes

The president has asked me, has asked members of his cabinet, (to) look at every possible tool in our toolbox to deal with inflation and go industry by industry to figure out how we can ease the pressure.

And so, yes, we are looking carefully to see if it would make sense to provide any exclusions from tariffs to bring down prices.

FX implications

The news fails to get any major attention but may join the latest positive development on the Ukraine-Russia talks to help improve sentiment.

Read: Forex Today: A pitch of optimism helps high-yieldings to bounce, Dollar still King