The US dollar (USD) edged higher on Friday (4/25) as investors digested conflicting messages from the United States and China regarding potential tariff negotiations. While President Donald Trump hinted that dialogue was underway, Beijing has flatly denied that any talks are currently taking place. The differences injected volatility into the market, although the greenback maintained its lead, with the US Dollar Index (DXY) up around 0.37% near the 99.65 zone at the time of writing.
Despite entering a data-light session ahead of the May 7 Federal Open Market Committee (FOMC) meeting, market participants remained focused on potential catalysts. Reports emerged that China may suspend some tariffs on US goods such as medical equipment, although Chinese officials have denied any formal involvement in the tariff discussions. Simultaneously, Cleveland Fed President Beth Hammack opened the door to a potential interest rate cut in June, depending on upcoming data. (Newsmaker23)
Source: FXstreet
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