US Dollar Slides as Trade Tensions Cloud Sentiment
The US Dollar Index remained under pressure on Wednesday, struggling to maintain the 100 threshold as markets cautiously awaited today’s key speech from Federal Reserve Chair Jerome Powell.
The greenback hovered near multiple-year lows, weighed down by trade and policy uncertainty and rising speculation over additional Fed rate cuts. Trade-related risks escalated further after President Trump ordered a new investigation into tariffs on all critical mineral imports, many of which are sourced from China.
Such a move could further weigh on investor sentiment as global economic growth concerns rise, benefiting traditional safe haven assets like the Swiss franc, gold, and the Japanese yen, Inki Cho financial markets strategist consultant to Exness, said.
Despite calls for renewed dialogue, there are no signs of talks between Washington and Beijing.
Looking forward, attention turns to Powell’s speech and retail sales data, which could influence the economic outlook and monetary easing expectations and shape the dollar’s near-term trajectory. #US Dollar Slides as Trade Tensions Cloud Sentiment MTN Nigeria Net Loss Grows by 192% to N400 billion
