The US dollar fell against most major rivals on Friday amid thin trading due to the Good Friday holiday. US President Donald Tr
The US dollar fell against most major rivals on Friday amid thin trading due to the Good Friday holiday.
US President Donald Trump ordered a full tariff review of US critical minerals imports in another escalation in his trade war with global trade partners.
Otherwise, Fed Chair Jerome Powell said that tariffs and the ongoing trade war between the US and the world, especially China, could weaken the Fed’s ability to contain inflation and boost US growth.
Powel expects inflation to rise and growth to slow down, but it’s still not clear which one of them needs more focus amid trade uncertainty.
Powell said the Fed is assuming a wait and see stance until the dust clears before taking a monetary policy decision.
He also expects the economy to move away from full employment and contained inflation targets due to the impact of tariffs.
In response, Trump criticized Powell and said his “termination couldn’t come soon enough”.
The EUR/USD are trading near a week high at $1.1400, opening the door for more gains towards the major resistance at $1.1473, followed by $1.1498, then $1.1500.
The dollar index dipped 0.1% today as of 20:01 GMT to 99.2.
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