The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is trading softer after markets digest headlines from the United States (US) President Donald Trump and his Vice President JD Vance. The index trades slightly above 104.00 at the time of writing os Tuesday, while markets assess two main stories.
The first market driver comes from United States (US) President Donald Trump, who issued "secondary tariffs" of 25% on all goods from countries that still buy Oil from Venezuela.
Trump eased off on the size and broadness of reciprocal tariffs that are set to kick in on April 2 and commented about adding more targeted tariffs on cars, aluminum, pharmaceuticals, chips and lumber, Bloomberg reports.
Meanwhile, markets are looking for comments from the European bloc after a US news editor got invited by mistake to a Signal's chat group with several Trump administration officials, including Vice President JD Vance, National Security Advisor Michael Waltz, Defense Secretary Pete Hegseth and Secretary of State Marco Rubio, among others. Comments from JD Vance towards Europe painted a clear picture of what and how he would like to see the EU being targeted with tariffs to pay for the US military actions against Houthi rebels, the Financial Times reports.
The issue not only raises questions on the stance of the US towards Europe but also about security problems as a third-party chat application was used to discuss US military operations, weapon inventories and tactical plans.
Source: FXStreet
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