The dollar index held around 108.1 on Wednesday, maintaining recent losses amid lingering uncertainty over U.S. President Donald Trump's tariff plans. Trump indicated on Tuesday that he was considering a 10% tariff on Chinese imports, which would kick in on Feb. 1, just one day after threatening Mexico and Canada with tariffs of around 25%. However, none of those threats have been translated into action, fueling hopes that the administration could take a more cautious approach to tariffs, which could help reduce inflation risks. The dollar has been on an upward trajectory since October, driven by concerns that Trump's "America First" policies and pro-growth stance could lead to higher inflation, potentially deterring the Federal Reserve from implementing further interest rate cuts. However, markets still expect the Fed to cut rates in July, with another cut likely later in the year. (AL)
Source: Trading economics
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