From Yahoo Finance: 2025-05-20 21:35:00

The dollar fell against other currencies due to concerns about the Trump administration’s tax cut bill and weak 20-year Treasury bond sale. Republicans are still divided on the tax legislation. The euro and yen rose against the dollar after the bond auction. Trump’s tax bill could add $3 trillion to $5 trillion to the U.S. debt. Traders are cautious about U.S. officials potentially seeking a weaker dollar in trade deals. Markets remain optimistic about trade deals, but talks with allies like Japan and South Korea have slowed down. The yen strengthened against the dollar, and Japanese bond yields surged, reducing the dollar’s appeal. The yen, Swiss franc, and gold gained after reports of Israel preparing to strike Iranian nuclear facilities. U.S.-Japan talks are anticipated, focusing on exchange rates. The pound rose after UK consumer inflation data. Bitcoin hit a record high of $109,760.08.



Read more at Yahoo Finance: US dollar slides on budget bill concerns, weak 20-year bond auction