The dollar slumped on Friday as waning confidence in the U.S. economy prompted investors to ditch U.S. assets to the benefit of safe havens such as the Swiss franc, yen and euro, as well as gold.

Planned U.S. tariffs could reduce Indonesia’s potential growth by 0.3 to 0.5 percentage points, but a 90-day pause in implementing the levies allows time to discuss solutions, Indonesia’s finance minister told Reuters on Thursday. 

Goldman Sachs has cut its growth forecasts for China in response to a sharp escalation in trade tensions with the U.S.

Asian stocks surged on Thursday tracking stellar gains on Wall Street, after U.S. President Donald Trump announced a 90-day pause on newly implemented reciprocal tariffs, excluding China.

Oil prices retreated on Thursday as U.S. President Donald Trump ramped up a trade war with China, even as he announced a 90-day pause on tariffs aimed at other countries.

The dollar dipped against safe havens and more risk sensitive currencies alike on Thursday as traders tried to work out where they stood after Wednesday’s dramatic tariff announcement from U.S. President Donald Trump, though China’s yuan slid.