- The US Dollar Index continues to advance as a federal court blocked Trump’s "Liberation Day" tariffs from taking effect.
- US Gross Domestic Product Annualized is expected to fall again by 0.3% in the first quarter.
- FOMC Meeting Minutes indicated that Fed officials broadly agreed that heightened economic uncertainty warranted a cautious approach to adjusting rates.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending its gains for the third successive day and trading more than 0.50% higher around 100.30 during the Asian hours on Thursday. Traders are likely awaiting the preliminary US Q1 Gross Domestic Product (GDP) Annualized, Personal Consumption Expenditures Prices QoQ, and Initial Jobless Claims, scheduled to be released later in the North American session.
The Greenback receives support after a US federal court on Wednesday blocked President Donald Trump from imposing "Liberation Day" tariffs from taking effect. A three-judge panel at the Court of International Trade in Manhattan ruled that Trump lacked the authority and declared the move unconstitutional and beyond his presidential authority.
Federal Open Market Committee's (FOMC) Minutes for the latest policy meeting, released on Wednesday, indicated that Federal Reserve (Fed) officials broadly agreed that heightened economic uncertainty justified their patient approach to interest-rate adjustments. Fed officials emphasized the need to keep interest rates unchanged for some time, as recent policy shifts cloud the US economic outlook.
Market participants look forward to Trump's “One Big Beautiful Bill”, which is on the way to the Senate floor for voting. The US fiscal deficit is expected to widen as the Bill’s provisions could increase the risk of bond yields staying higher for longer. Higher bond yields can keep borrowing costs higher for consumers, businesses, and governments. Trump’s bill is expected to increase the deficit by $3.8 billion.
US Dollar PRICE Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Swiss Franc.
USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
---|---|---|---|---|---|---|---|---|
USD | 0.36% | 0.22% | 0.58% | 0.08% | 0.05% | 0.50% | 0.61% | |
EUR | -0.36% | -0.12% | 0.23% | -0.27% | -0.24% | 0.14% | 0.24% | |
GBP | -0.22% | 0.12% | 0.35% | -0.13% | -0.10% | 0.25% | 0.28% | |
JPY | -0.58% | -0.23% | -0.35% | -0.51% | -0.55% | -0.14% | -0.08% | |
CAD | -0.08% | 0.27% | 0.13% | 0.51% | -0.08% | 0.42% | 0.41% | |
AUD | -0.05% | 0.24% | 0.10% | 0.55% | 0.08% | 0.38% | 0.38% | |
NZD | -0.50% | -0.14% | -0.25% | 0.14% | -0.42% | -0.38% | -0.00% | |
CHF | -0.61% | -0.24% | -0.28% | 0.08% | -0.41% | -0.38% | 0.00% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
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