The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of currencies, lost ground on Tuesday, slipping to 101.50 as inflation data for April came in softer than expected. While CPI rose 0.2% monthly and 2.3% annually, missing forecasts, core inflation held steady at 2.8%.
Traders remain cautious amid vague trade commitments with China and the UK, and there are new uncertainties after President Trump pushed ambitious investment and tax plans without detailing how they would impact the economy. Despite tariff de-escalation headlines, the Fitch-rated effective tariff rate on Chinese goods remains above 40%, fueling doubt over the recent deal's durability.
US CPI inflation cooled to 2.3% in April, below expectations, raising Fed rate cut speculation.
Trump touts tax cuts and investment deals, but details on trade pacts remain vague.
DXY slips below 101.60 as tariff truce with China lacks forward clarity.
Markets expect first Fed rate cut by September 2025 with easing through 2026.
Source: Fxstreet
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