US dollar strengthens as Trump softens tariff stance, Wall Street rebounds slightly

From Investing.com: 2025-03-24 07:14:00

Trump Softens Tariff Stance, Dollar Gains: The US dollar strengthened as Trump’s tariff stance softened, with reports indicating a more targeted approach rather than broad industry-wide levies. The next round of tariffs is set for April 2, focusing on countries with trade imbalances. S&P Global PMIs and a speech by Atlanta Fed President Raphael Bostic are key events today, impacting the dollar’s movement.

Euro Rally Falters, Composite PMI Misses Forecast: The euro saw a negative week after reaching highs due to Germany’s fiscal news. The rally stalled as the actual ratification led to a pullback. A miss in the preliminary composite PMI for March may hinder further euro gains against the US dollar.

Yen Traders Unfazed by Hawkish Remarks: Despite Governor Ueda’s hawkish comments on raising interest rates, yen traders paid no attention as the currency continued to slide. Investors await clearer signals from the BoJ on the timing of a rate hike.

Wall Street Rebounds, but Caution Prevails: Wall Street closed slightly higher on Friday, with Nasdaq leading the gains. Futures point to further increases today, possibly due to reports of narrowed tariffs. However, uncertainties around Trump’s decisions and potential economic slowdown could lead to renewed risk aversion.



Read more at Investing.com: US Dollar Strengthens Despite Fed Caution as Traders Price in Aggressive Cuts