The dollar index held around 99.5 on Wednesday after surging more than 1% in the previous session, underpinned by hopes of de-escalation in the US-China trade war and easing concerns about the Federal Reserve's independence. Treasury Secretary Scott Bessent said Tuesday that the current tariff standoff with China is "unsustainable" and emphasized that the Trump administration is not seeking to decouple the two economies. Later that day, President Trump confirmed he has no plans to remove Fed Chair Jerome Powell, helping to ease investor uncertainty. The White House's efforts to reassure markets followed a period of volatility driven by escalating trade rhetoric and perceived threats to Fed autonomy. The dollar rebounded across the board, posting its largest gains against the euro, yen, and Swiss franc.
Source: Trading Economi
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