The US dollar fell Friday, on track for a hefty weekly loss in the wake of hot inflation data and after President Donald Trump delayed imposing reciprocal tariffs on major U.S. trading partners.
At 04:00 ET (09:00 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.4% lower to 106.815, dropping to a three-week low and on course for a loss of around 1% this week.
President Trump directed officials on Thursday to formulate plans for reciprocal tariffs on every country that imposes taxes on U.S. imports, but stopped short of immediately announcing tariffs.
This raised expectations that there may yet be room for countries to negotiate, weighing on the U.S. currency as traders have generally seen the imposition of tariffs as being dollar-positive.
In Europe, EUR/USD traded 0.2% higher to 1.0484, with the euro trading around its highest level in two weeks against the dollar, supported by optimism around potential peace talks between Ukraine and Russia.
GBP/USD rose 0.3% to 1.2587, with the U.K. currency climbing to its highest level since early January, in the wake of data showing the U.K. economy unexpectedly grew in the final quarter of last year.
In Asia, USD/JPY dropped 0.2% to 152.52, with the Japanese currency retaining recent strength, amid persistent bets on more rate hikes by the Bank of Japan.
Source: Investing.com
The dollar flirted with a two-month peak on Thursday after Federal Reserve Chair Jerome Powell stuck to his patient approach on rates in a closely watched policy decision and offered little insight on...
The dollar advanced against major peers on Wednesday following better-than-expected U.S. GDP data and as investors awaited the outcome of the Federal Reserve's policy meeting later in the session. U....
The US dollar index weakened on Wednesday (July 30th), snapping a four-day winning streak as investors remained cautious ahead of the Federal Reserve's policy meeting, following a sharp reaction to th...
The US dollar (USD) held firm on Tuesday (July 29th) after posting its strongest daily gain since May, gaining 1.0% on Monday. This rally came after the United States (US) and the European Union (EU) ...
A dollar index remained steady as traders weigh US-China trade talks ahead of key economic data releases expected later this week. The Bloomberg Dollar Spot Index little changed on Tuesday after...
Gold prices rebounded on Thursday from a one-month low hit in the previous session, as trade uncertainty sparked by the announcement of new US tariffs boosted bullion's appeal, even as expectations of a US interest rate cut in September...
Gold prices rebounded on Thursday (July 31) from a one-month low reached in the previous session, as trade uncertainty sparked by the announcement of new US tariffs increased bullion's appeal, even as expectations of a US interest rate cut in...
The Bank of Japan held its benchmark interest rate steady and raised its inflation outlook more than expected in a sign it may be closer to a rate hike, while continuing to warn that it's still assessing the impact of President Donald Trump's...
European stock markets closed higher in Tuesday trading as the Stoxx Europe 600 was up 0.33%, Germany's DAX climbed 1.03%, the FTSE 100 gained...
Europe's Stoxx 600 index erased earlier gains to close 0.23% lower as investors turned less positive over the details of the U.S.-EU trade...
The European Union and the U.S. will form a "metals alliance" to counter the impact of subsidised Chinese production on global markets, as part of...
US stocks maintained modest gains on Tuesday (July 29) as the market digested a series of earnings reports ahead of key economic developments. The...