US Commerce Dept: US to impose duties on steel exported from Vietnam

The Commerce Department is out with the latest statement on circumvention of anti-dumping and anti-subsidy duties, this time on steel exported from Vietnam.

The statement said that the US to impose duties of up to 456% on certain steel produced in South Korea or Taiwan, which is then shipped to Vietnam for minor processing and finally exported to the US.

The risk sentiment is likely to remain pressure amid these trade headlines, keeping the safe-haven Yen buoyed alongside gold prices.