The dollar index fell to around 104 on Thursday, reaching its lowest level in four months, as a stronger euro and the ongoing fallout from President Donald Trump's tariffs weighed on the currency. Trump recently granted a one-month exemption for US automakers from his 25% tariffs on Canada and Mexico and expressed openness to further concessions. However, new US tariffs on Canada, Mexico, and China have led to retaliatory measures from those countries, raising concerns of an escalating trade war that could impede US economic growth. On the data front, traders are awaiting Friday's monthly...
The Japanese yen traded near 149 per dollar on Thursday, staying close to its strongest levels in five months. The currency gained from a broad weakness in the dollar, which came under pressure from a strengthening euro and the fallout from President Donald Trump's tariffs. Trump granted tariff concessions for certain automakers, while his latest tariffs prompted retaliatory measures from the affected countries—both of which were bearish for the dollar. Domestically, Bank of Japan Deputy Governor Shinichi Uchida remarked this week that the central bank could raise interest rates further...
The Australian Dollar (AUD) holds ground for the fourth consecutive day on Thursday. The AUD/USD pair gains ground as the US Dollar (USD) remains subdued amid improved risk sentiment, following another shift in US President Donald Trump's tariff strategy. The White House announced on Wednesday that President Trump is temporarily exempting automakers from newly imposed import tariffs on Mexico and Canada for one month. Additionally, Trump is considering excluding certain agricultural products from tariffs on Canada and Mexico, according to a Bloomberg reporter on X late Wednesday. Source:...