The dollar index edged up to 99.7 on Wednesday, extending a nearly 0.4% gain from the previous session, as traders awaited fresh catalysts while continuing to monitor trade tensions and fiscal developments under the Trump administration.
Despite the recent uptick, the greenback remains near its 2023 lows reached in April and is down more than 7% year-to-date. On Sunday, President Trump postponed the implementation of a planned 50% tariff on EU imports to July 9th, just days after announcing the sweeping measure.
Meanwhile, his so-called "big beautiful bill" narrowly passed the House of Representatives last week by a single vote and now awaits a Senate decision. On the monetary policy front, the release of FOMC meeting minutes later today may offer further insight into the Fed's outlook. The dollar gained broadly, with notable strength against the yen, following reports that Japanese authorities may intervene to stabilize the bond market.
Source: Trading Economcis
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