Risk-on sentiment weakens due to tariff concerns, dollar retreats, Fed less likely to cut rates

The US dollar gives back gains made after strong jobs report, while Trump celebrates approval of US budget bill and plans to sign it today. Most Fed members feel less pressure for July rate cut as data shows healthy labor market and lower wage growth. Oil stabilizes near $66, while gold rally continues. Markets react to eventful Thursday, with US stock and bond markets closed for Independence Day. Tariffs could disrupt calm as US sends trade restriction letters to at least 10 countries. Gold remains strong, while oil attempts to recover from recent drop.

Read more at Investing.com: Risk-On Sentiment Fades as Tariffs Return to the Spotlight