The US dollar index rose to around 99.7 on Wednesday, extending gains from the previous session as improving US consumer confidence bolstered sentiment toward the greenback.
Market optimism was further supported by President Trump's decision to delay a planned 50% tariff on the EU, easing concerns over escalating trade tensions and improving the outlook for US assets.
Meanwhile, European leaders have reportedly asked top companies and CEOs to outline their US investment plans ahead of upcoming trade negotiations with Washington.
On the monetary policy front, Minneapolis Fed President Neel Kashkari said Tuesday that interest rates should remain unchanged until there is more clarity on the inflationary impact of higher tariffs.
Externally, the dollar also gained support from a sharp decline in the yen following reports that Japanese authorities may intervene to stabilize the bond market, potentially by reducing the issuance of super-long-term bonds following a recent spike in yields.
Source: trading Economi
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