The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending its gains for the third successive day and trading more than 0.50% higher around 100.30 during the Asian hours on Thursday.
Traders are likely awaiting the preliminary US Q1 Gross Domestic Product (GDP) Annualized, Personal Consumption Expenditures Prices QoQ, and Initial Jobless Claims, scheduled to be released later in the North American session.
The Greenback receives support after a US federal court on Wednesday blocked President Donald Trump from imposing "Liberation Day" tariffs from taking effect. A three-judge panel at the Court of International Trade in Manhattan ruled that Trump lacked the authority and declared the move unconstitutional and beyond his presidential authority.
Federal Open Market Committee's (FOMC) Minutes for the latest policy meeting, released on Wednesday, indicated that Federal Reserve (Fed) officials broadly agreed that heightened economic uncertainty justified their patient approach to interest-rate adjustments.
Fed officials emphasized the need to keep interest rates unchanged for some time, as recent policy shifts cloud the US economic outlook.
Source: Fxstreet
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