Undermined by U.S. Policy Uncertainty, Dollar Extends Slide

BlockBeats News, July 1st, due to the uncertainty in US trade and fiscal policies, the US dollar fell to its lowest level since February 2022. The US President Trump's suspension of retaliatory tariffs will end on July 9th. Meanwhile, the US Senate is engaged in a marathon vote on Trump's tax and expenditure bill.

Ahead of this week's key US employment market data release, investors have become more cautious. These data include the JOLTs job opening data to be released on Tuesday and the non-farm payroll report to be released on Thursday.

Deutsche Bank analyst Volkmar Baur stated in a report that data well below expectations would increase the likelihood of a Fed rate cut in July and could further weaken the US dollar. (IG)