The dollar index fell below 103 on Thursday, hitting its lowest level in nearly six months as traders digested President Donald Trump's sweeping tariff measures. Late Wednesday, Trump announced a comprehensive tariff package aimed at reshaping US trade relationships. The measures include a 10% baseline tariff on all imports, with higher rates for key trade partners, such as China (34%), the European Union (20%), and Japan (24%).
Additionally, a 25% tariff on all foreign-made automobiles took immediate effect. Meanwhile, fresh economic data painted a mixed picture. The ADP report showed a stronger-than-expected 155K increase in private-sector jobs for March, surpassing forecasts. However, the JOLTS report revealed that job openings fell to 7.57 million, signaling a potential slowdown in the labor market. Investors are now turning their attention to Friday's nonfarm payrolls report, which could provide further insight into the Federal Reserve's next policy move.
Source: Trading Economics
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