Tariff turmoil drags dollar to 12-week low, market needs time to digest developments
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Odaily reported that Monex Europe analysts said in a report that the US Dollar extended its decline on Tuesday, touching a 12-week low, as concerns over the weakening US economic growth outlook weighed on the Dollar. They said the concerns over economic growth stemmed from the Trump administration's tariffs and broader policies, as well as recent soft US economic data. However, these concerns over US economic growth may be "somewhat exaggerated". Meanwhile, the market may have underestimated the impact of tariffs in other regions. They said the US import tariffs should still have a net positive impact on the US Dollar. Currently, traders may need time to digest the full impact of the latest developments, making it a "difficult process" for those betting on a stronger US Dollar. (Gold Ten Data APP)
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