The dollar index rose to around 104 on Friday, marking its third consecutive session of gains, as escalating global trade tensions pressured the euro and other major currencies.
On Thursday, President Donald Trump threatened to impose 200% tariffs on all alcoholic products from the European Union, retaliating against the bloc's 50% tariff on American whiskey and other US goods. He also reaffirmed his stance on implementing reciprocal tariffs on global trading partners, set to take effect on April 2. Meanwhile, recent data showed that US inflation figures for February came in below expectations, with both consumer and producer price growth slowing. The latest weekly jobless claims also stood at 220K, slightly below estimates but in line with recent trends. Looking ahead, investors are turning their attention to next week's Federal Reserve policy decision, where the central bank is widely expected to hold interest rates steady while providing updated economic projections.
Source: Trading Economics
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