US dollar weakens as Fed Chair Powell dismisses possibility of rate cut in July

From Investing.com: 2025-06-25 05:01:00

Investors focus on US economy as truce holds in the Middle East between Israel and Iran. Oil prices struggle at $65 while gold sees an increase. The dollar attempts to recover as US equity rally pauses. Fed Chair Powell shuts down July rate cut expectations, but leaves door open for future cuts depending on inflation. US budget bill vote set for Friday, with unclear outcome. 90-day tariff pause deadline looms on July 9, with potential for new trade deals. Trump administration continues negotiations with various countries, potentially leading to further tariffs. Markets await news on budget bill and tariffs impact on inflation.



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