The US dollar (USD) is a little weaker in Europe today due to slightly lower interest rates in the US, continuous optimism about the end of war in Ukraine and a package of US reciprocal tariffs. That was difficult to decipher. The market knew that the Department of Commerce had to deliver a great report on the trade in April and expected tariffs thereafter. But he also feared that the announcement of reciprocal tariffs this week was a separate and more immediate line of work. Yesterday’s news that the foundations for the April report have been seen have been seen as a relief, FX analysts of ING, Chris Turner point out.
Short -term impulse can lead to the DXY to the 106.35 zone
“Reading the details of the base on which reciprocal tariffs will be delivered. any other practice that … imposes any unfair limitation to access to the market or any structural impediment to fair competition with the United States market economy. ‘”
“However, the result will probably be some extremely high tariffs against some of the key countries with which the US has a deficit of goods. The EU will certainly be in the spot As an leverage against the EU digital services tax.
“For today, we believe that the dollar can be kept soft while the approach changes to the security conference in Munich and what means for any high fire in Ukraine. Speculation is growing that representatives of the USA, Russia, Ukraine And maybe Europe too, could meet in Saudi Arabia at some point. Dxy below 106.95/107.00 to the area of ​​106.35. “
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.
