The US dollar index fell to around 97.3 on Thursday, marking its second consecutive day of losses as investors pivoted toward riskier assets amid a broad rally in stocks and commodities.
The greenback also came under pressure from a sharp drop in Treasury yields, driven by strong demand in Wednesday's 10-year note auction.
On the policy front, minutes from the Federal Reserve's latest meeting revealed that most officials were open to cutting interest rates later this year.
Despite the overall decline, the dollar surged more than 2% against the Brazilian real after President Donald Trump announced a 50% tariff on Brazilian imports, citing an "unfair trade relationship."
Trump also issued tariff notices to eight other countries, namely the Philippines, Brunei, Moldova, Algeria, Iraq, Libya, and Sri Lanka, with duties ranging from 25% to 30%, effective August 1. Markets now turn their attention to potential trade agreements with India and the European Union.
Source: Trading Economics
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