U.S. Dollar Rises As US And China Reach Deal To Slash Tariffs For 90 Days

RTTNews | hace 51
U.S. Dollar Rises As US And China Reach Deal To Slash Tariffs For 90 Days

(RTTNews) - The U.S. dollar strengthened against other major currencies in the European session on Monday, after the U.S. and China struck a deal to suspend tariffs for 90 days and slash rates going forward, following negotiations in Switzerland over the weekend.

U.S. trade representative Jamieson Greer announced a 90-day pause on tariffs. The U.S. tariffs on Chinese goods will fall to 30 percent from 145 percent while Chinese duties on U.S. imports will fall to 10 percent from 125 percent, the two countries announced today. The easing is effective from May 14. More details are still to be released.

"We have substantially moved down the tariff levels," said U.S. Treasury Secretary Scott Bessent, who led the American delegation at the talks. "Neither side wants a decoupling."

In the European trading today, the U.S. dollar rose to nearly a 5-week high of 148.23 against the yen and a 4-week high of 1.3160 against the pound, from early lows of 145.72 and 1.3300, respectively. If the greenback extends its uptrend, it is likely to find resistance around 152.00 against the yen and 1.29 against the pound.

Against the euro and the Swiss franc, the greenback advanced to more than 1-month highs of 1.1083 and 0.8468 from early lows of 1.1243 and 0.8331, respectively. On the upside, 1.10 against the euro and 0.90 against the franc are seen as the next resistance levels for the greenback.

Against the Australia and the New Zealand dollars, the greenback climbed to 4-day highs of 0.6462 and 0.5941 from early lows of 0.6393 and 0.5876, respectively. The next possible upside target for the greenback are seen around 0.65 against the aussie and 0.60 against the kiwi.

The greenback jumped to nearly a 5-week high of 1.3981 against the Canadian dollar, from an early low of 1.3915. The greenback may test resistance around the 1.45 region.

Looking ahead, U.S. WASDE report and U.S. monthly budget statement for April are slated for release in the New York session.

read more
Yen Falls Amid Risk-on Mood

Yen Falls Amid Risk-on Mood

The Japanese yen weakened against other major currencies in the European session on Wednesday amid increased risk-on mood, as investors pondered the prospect of Federal Reserve rate cuts and hoped for a positive resolution on trade discussions ahead of completion of 90-day tariff pause on July 9.
RTTNews | hace 4h 2min
Yen Falls Against Majors

Yen Falls Against Majors

The Japanese yen weakened against other major currencies in the European session on Wednesday.
RTTNews | hace 4h 31min
U.S. Dollar Advances Amid Strong Economic Data

U.S. Dollar Advances Amid Strong Economic Data

The U.S. dollar strengthened against its major counterparts in the New York session on Tuesday, as economic data came in above estimates and Federal Reserve Chair Jerome Powell maintained a data-dependent approach to rate cuts.
RTTNews | hace 18h 26min
Yen Rises As Japan Tankan Data Adds To BOJ Rate-Hike Prospects

Yen Rises As Japan Tankan Data Adds To BOJ Rate-Hike Prospects

The Japanese yen strengthened against other major currencies in the European session on Tuesday, following the Bank of Japan's Tankan survey indicating that business sentiment among major Japanese firms has improved slightly, which increased the likelihood of additional rate hikes by the Japanese central bank.
RTTNews | hace 1
Yen Rises Against Majors

Yen Rises Against Majors

The Japanese yen strengthened against other major currencies in the European session on Tuesday. The yen rose to a 6-day high of 168.46 against the euro and an 8-day high of 196.80 against the pound, from early lows of 169.66 and 197.76, respectively.
RTTNews | hace 1
U.S. Dollar Weakens Amid Trade Talks, Debt Concerns

U.S. Dollar Weakens Amid Trade Talks, Debt Concerns

The U.S. dollar dropped against its most major counterparts in the New York session on Monday, as investors monitored negotiations over President Donald Trump's tax bill in the Republican-controlled Senate.
RTTNews | hace 1