US Edition
Dollar Wallows Near 3-1/2-Year Low as Fed Cuts, Trump Bill in Focus
- In Asian trading, the US dollar fell to 96.612, its lowest since February 2022, amid dovish signals from Federal Reserve Chair Jerome Powell and concerns over Trump's spending bill.
- The U.S. Senate's divided vote on a $3.3 trillion tax and spending bill, combined with tariffs and deficit fears, has made Treasuries volatile and pressured the dollar in Asian markets.
- Market figures show the dollar reaching its lowest since September 2021 against the euro and January 2015 versus the Swiss franc, declining over 10% in the first half.
- The dollar's decline prompts investors to wager on faster Fed easing while monitoring the July 9 tariff deadline.
- Looking ahead, Goldman Sachs expects three Fed rate cuts this year, which could boost U.S. exports but also increase travel costs and deter foreign investment.
15 Articles
15 Articles
Channel News Asia
Dollar wallows near 3-1/2-year low as Fed cuts, Trump bill in focus
TOKYO :The U.S. dollar hunkered near the lowest since February 2022 against major peers on Wednesday, as traders considered dovish hints from Federal Reserve Chair Jerome Powell, along with the potential impact of President Donald Trump's spending bill.The greenback was pinned near its weakest since September
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Tokyo: The US dollar has stabilized near its lowest level since February 2022 for other major currencies today Wednesday, at a time when clients are holding tips from the President of the Federal Reserve (United States Central Bank) Jerome Powell on facilitating monetary policy along with the potential impact of the US President Donald Trump's spending bill.
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