The dollar index maintained its recent gains, holding around 107 on Wednesday, as President Donald Trump's escalating tariff threats fueled inflation concerns. On Tuesday, Trump announced plans to impose auto tariffs of around 25%, as well as similar duties on semiconductors and pharmaceutical imports. Geopolitical tensions also supported the dollar, particularly after the US excluded European nations from peace negotiations with Russia over the ongoing war in Ukraine. On the monetary policy front, Federal Reserve officials reaffirmed their cautious approach to further interest rate cuts, emphasizing their focus on reducing inflation. Currently, markets are pricing in approximately 35 basis points of easing from the Fed this year. Traders are now awaiting the release of the latest FOMC minutes for additional insights into the future rate outlook.
Source: Trading Economi
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