The US Dollar (USD) continues to face an intense selling pressure, with the US Dollar Index (DXY) sliding to near 99.50. The USD Index has extended its losing streak for the third trading day amid escalating trade war between the United States (US) and China.
Last week, Donald Trump announced a 90-day pause on reciprocal tariffs on all of its trading partners, except China. The situation worsened after Trump raised reciprocal levies on China to 125% for imposing significant counter-tariffs on the US.
The 90-day reciprocal tariff pause was a big relief for all associated nations, which led to a sharp recovery in global equities, including the US.
However, the US Dollar continues to face pressure as investors expect Trump's yes-no on import duties and tit-for-tat tariff fight with China is undermining its structural attractiveness.
This has also led to a sharp unwinding of US government bonds. 10-year US Treasury yields are up almost 14% from the last week but have dropped over 1% in Monday's European trading hours.
Source: FXStreet
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