Dollar News (USD)

The Japanese yen has taken a hit after its surge during the Asian trading session, which happened at the same time as a big hike in the dollar. The decision by US President Donald Trump to postpone 50% import tariffs on the EU has given investors a much-needed boost.

Donald Trump's tax reforms in the United States continue to provoke strong reactions from experts. While some expect a reduction in government spending, others fear a sharp rise in the budget deficit. House Speaker Mike Johnson belongs to the first group and supports the initiative.

Federal Reserve Bank of Minneapolis President Neel Kashkari stated that uncertainty surrounding US trade and immigration policies is hindering the central bank's ability to decide on interest rate cuts.

Donald Trump's plans to impose 50% duties on European goods remain a serious threat to the global economy. Besides, surging US debt undermines investor confidence in the Treasury bond market. Weak demand for bonds and, as a result, a sharp rise in yields may boost interest in gold.

The dollar struggled to regain ground on Tuesday as market worries about how the sweeping US tax bill might affect the national economy persist, continuing to drag down American equities, Reuters reports.

On Monday, the euro hit a one-month high against the dollar. This occurred after US President Donald Trump reversed his decision to impose 50% tariffs on EU imports. The American leader gave time to the bloc until July 9 to reach a trade agreement.

The US credit rating downgrade by Moody's last week continues to weigh on markets, increasing investor fears about the country's soaring national debt. Yardeni Research experts consider a negative scenario quite possible, but do not view it as catastrophic.

A new Harris Poll conducted for Bloomberg News reveals that a majority of Americans disapprove of the US President's trade policy. The poll found that 56% of respondents feel their financial situation has worsened since new tariffs were imposed.

US President Donald Trump agreed to move the imposition of tariffs on goods from Europe to July 9 during a phone call with Ursula von der Leyen, European Commission President. Last week, the US leader announced his intention to introduce a 50% levy on EU imports starting June 1.

Alex Bibani, senior portfolio manager at Allianz Global Investors, warns of a deteriorating investment climate in the US due to Republicans’ decision to overhaul clean energy legislation.