The DXY weighted by Commerce has fallen to a new minimum of the year, since investors continue to fearing what these new reciprocal tariffs mean for trust and activity in the US, says Chris Turner, an Ing currency analyst.
The softest risk assets can drag the DXY to the 102.00 area today
“This uncertainty has been a key factor that has led to US actions this year and has caused both a moderate revaluation of the Fed cycle and a weaker dollar. At the time of writing this, the futures of the S&P June index are marked to fall around 3% – and this follows a 3% drop in the rates of reference shares in Asia. Fulfilling your promise to restructure the global commercial system.
“China’s tariffs are practically now in 60%, EU tariffs are in 20%and there is a base universal tariff of 10%. Since these tariff premise that all bad news has already come out and things are as bad as they can be. “
“For today’s session, we are attentive to the weekly data of initial unemployment applications and then to the ISM of Services. We should also be attentive to the possible European retaliation in the service sector, since the US has a large surplus with Europe in this area. The DXY has receded almost 75% of the Trump rally since October. The most soft risk assets can drag it to the area 102.00 today. “
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.
