- The US dollar index remains under pressure while 2 -year American treasure yield drops to 3.81%.
- Trump announced his plans to introduce pharmaceutical tariffs in the next two weeks.
- The Fed is expected to maintain interest rates without changes on Wednesday, with investors attentive to the policy statements of President Powell.
The US dollar index (DXY), which measures the US dollar (USD) against a basket of six main currencies, is depreciating after registering profits in the previous session, quoting about 99.60 during European hours on Tuesday.
The dollar is under pressure since the 2 -year American treasure bonus yield breaks its three -day streak, falling to 3.81%, depreciating in 0.70%. In contrast, 10 -year performance extends its profits, staying stable at 4.36% at the time of writing.
In addition, US president Donald Trump declared on Monday that he intended to introduce pharmaceutical tariffs in the next two weeks. Trump also announced last week to instruct the US trade representative and the Department of Commerce to begin imposing a 100% tariff on films produced abroad.
The Federal Reserve (FED) is scheduled to announce its monetary policy on Wednesday. While it is widely expected that the Fed maintains the interest rates unchanged, the markets are closely observing the comments of President Jerome Powell, particularly amid the uncertainty related to tariffs and the growing pressure of President Donald Trump for rate cuts.
The secretary of the Treasury, Scott Besent, said on Monday that the US is “very close to some agreements”, reinforcing the comments made by Trump during the weekend about progress in commercial negotiations. However, Trump confirmed that he will not meet with Chinese President Xi Jinping this week. Meanwhile, the China Ministry of Commerce declared Friday that it is reviewing an US proposal to restart the conversations.
In the economic front, US data indicated resilience in the services sector. The ISM PMI rose to 51.6 in April, exceeding 50.6 expectations and improving from March 50.8. The new requests increased to 52.3 from 50.4, and the employment index in services increased to 49 from 46.2.
American dollar today
The lower table shows the percentage of US dollar change (USD) compared to the main coins today. American dollar was the weakest currency against Japanese and in Japanese.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.16% | -0.18% | -0.32% | -0.06% | 0.21% | -0.28% | 0.21% | |
| EUR | 0.16% | -0.04% | -0.15% | 0.12% | 0.35% | -0.13% | 0.36% | |
| GBP | 0.18% | 0.04% | -0.15% | 0.12% | 0.41% | -0.11% | 0.41% | |
| JPY | 0.32% | 0.15% | 0.15% | 0.25% | 0.52% | 0.11% | 0.53% | |
| CAD | 0.06% | -0.12% | -0.12% | -0.25% | 0.26% | -0.23% | 0.29% | |
| Aud | -0.21% | -0.35% | -0.41% | -0.52% | -0.26% | -0.48% | 0.02% | |
| NZD | 0.28% | 0.13% | 0.11% | -0.11% | 0.23% | 0.48% | 0.51% | |
| CHF | -0.21% | -0.36% | -0.41% | -0.53% | -0.29% | -0.02% | -0.51% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the US dollar of the left column and move along the horizontal line to the Japanese yen, the percentage change shown in the box will represent the USD (base)/JPY (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
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