Caroline Hepker

The euro trading at 1.1861 this morning.

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I'm Caroline Hepker.

And I'm Caroline Hepker.

US President Donald Trump is reportedly looking to scale back tariffs on steel and aluminium goods.

The Financial Times says the White House is looking at introducing more targeted measures as a way to combat the cost of living.

Bloomberg's James Walcock has more.

Hungary's opposition leader, Peter Maia, has said that he was secretly taped having sex and has accused the government of trying to blackmail him ahead of key elections.

Maia's teaser party has a wide lead in polls over the incumbent Viktor Orban, who has been in power for 16 years.

After rumours of the sex tape appeared in Hungarian media, the opposition leader said that he was the victim of blackmail.

Peter Maiava, speaking via a translator in an online video address that the politicians subtitled into English.

A spokesman for Orban's Fidesz party said in a Facebook post that Maiava's comments implied the politician had been misleading the public.

The alleged sex tape is the latest scandal in the country's dirty selection campaign to date, ahead of a vote in April.

And now to a people and pay story.

Jane Fraser now sits among the highest paid banking executives in the US on Wall Street, Stephen.

That's after Citigroup boosted her pay by 22%.

Bloomberg's Tiwa Adebayo has more.

And those are our top stories for you this morning.

In terms of the markets, Asian stocks are lower and the sell-off is deepening after we also saw an AI-fueled sell-off in the U.S.