- The dollar index loses ground while operators adopt caution after Trump’s comments about writing tariff cards to other countries.
- Trump’s tax bill was approved by the House of Representatives, with tax cuts aimed at promoting economic growth.
- The solid US market data from the US decreased the probabilities that the Fed cuts interest rates.
The American dollar index (DXY), which measures the value of the US dollar (USD) compared to six main currencies, is going back to the profits recorded in the two previous sessions, quoting down around 96.90 during the Asian hours of Friday. The dollar faces challenges while operators adopt caution in the midst of uncertainty about the plans of US President Donald Trump for tariffs in several countries.
According to Reuters, President Trump told reporters on Thursday that “it will begin sending letters on commercial tariffs starting Friday.” He said he planned to send letters to 10 countries at the same time, delineating the fees of proposed tariffs ranging between 20% and 30%.
The fiscal bill “A Great Beautiful” was approved by the House of Representatives and was sent to Trump for his signature as law. The legislation includes significant tax cuts designed to stimulate economic growth. Trump praised the approval of the project in Truth Social, calling him a “historical victory for US workers, families and companies.”
However, the US dollar received support since the strongest employment growth than expected and a lower unemployment rate in the United States (USA) weakened the expectations of rates cuts by the Federal Reserve (Fed).
On Thursday, the US non -agricultural payroll (NFP) indicated that the US workforce grew by 147,000 jobs, exceeding 110,000 anticipated in June. In addition, the unemployment rate decreased to 4.1% from 4.2%. Meanwhile, the weekly applications for unemployment subsidy fell to 233,000, from 237,000, reflecting an American resilient labor market.
American dollar today
The lower table shows the percentage of US dollar change (USD) compared to the main coins today. The US dollar was the weakest currency against the Japanese yen.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.14% | -0.09% | -0.38% | -0.06% | 0.21% | 0.09% | -0.30% | |
| EUR | 0.14% | 0.08% | -0.22% | 0.12% | 0.23% | 0.22% | -0.12% | |
| GBP | 0.09% | -0.08% | -0.32% | 0.03% | 0.17% | 0.14% | -0.20% | |
| JPY | 0.38% | 0.22% | 0.32% | 0.35% | 0.46% | 0.40% | -0.01% | |
| CAD | 0.06% | -0.12% | -0.03% | -0.35% | 0.11% | 0.10% | -0.24% | |
| Aud | -0.21% | -0.23% | -0.17% | -0.46% | -0.11% | -0.06% | -0.37% | |
| NZD | -0.09% | -0.22% | -0.14% | -0.40% | -0.10% | 0.06% | -0.34% | |
| CHF | 0.30% | 0.12% | 0.20% | 0.01% | 0.24% | 0.37% | 0.34% |
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.
