The US dollar index fell below 99 on Monday, hitting its lowest level in over a month, as the euro strengthened following President Donald Trump's decision to postpone the imposition of 50% tariffs on the European Union until July 9.
Trump announced the delay on Truth Social after a call with European Commission President Ursula von der Leyen, who described the conversation as "good" but noted more time was needed to "reach a good deal." Adding to market unease, Trump threatened to impose a 25% tariff on iPhones sold in the US that are not manufactured domestically, raising concerns over broader trade tensions.
The dollar remains under pressure amid growing uncertainty over Trump's shifting trade stance, which has dented investor confidence in US assets. Separately, Trump indicated that his sweeping spending and tax cut proposal may undergo "significant" revisions in the Senate a signal that fiscal concerns are resonating within markets.
Source: Trading Economi
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