The US dollar index slipped to around 103 on Tuesday, trimming recent gains as persistent trade uncertainties weighed on the broader economic and inflation outlook. President Donald Trump denied rumors of a potential pause in his sweeping tariff measures but expressed a willingness to enter negotiations with trade partners. Treasury Secretary Scott Bessent added that nearly 70 countries have reached out to the White House seeking tariff talks. However, tensions escalated as Trump threatened China with an additional 50% tariff if Beijing fails to remove its levies on US imports. In response, China condemned the threats as "blackmail" and vowed to "fight to the end" to defend its interests, fueling concerns of a deepening trade conflict. On the monetary policy front, Chicago Fed President Austan Goolsbee emphasized the need for hard data before deciding on the next move. All eyes now turn to this week's inflation data, which could be pivotal in shaping expectations for future rate cuts.
Source: Trading Economi
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