Another US tariff pause against Europe puts pressure on dollar — Bloomberg

After Friday's concerns about Donald Trump's plan to impose 50% tariffs on Europe as early as June 1, markets found a relief at the beginning of this week when the US President announced a pause in the introduction of these measures until July 9. Traders reacted immediately to the politician's statements. The US dollar fell to its lowest level since December 2023, losing 0.2%, while contracts for the S&P 500 index rose by 1%, according to Bloomberg.

Analysts surveyed by the news agency believe that Trump's actions continue to cause anxiety among traders. The president's strong statements late last week once again made tariffs a key concern for investors, temporarily overshadowing worries about the growing national debt and US tax reforms.

However, as Bloomberg notes, investor confidence in American assets continues to decline. According to the Commodity Futures Trading Commission (CFTC) data, traders remain negative toward the dollar, although the volume of their bets against the American currency decreased from $16.5 billion to $12.4 billion last week.