The dollar index (DXY00) today is up by +0.23%. The dollar is climbing today on hopes of easing US-China trade tensions after the countries agreed to trade talks this weekend for the first time since President Trump imposed tariffs on US trading partners. Also, there is caution ahead of the results of the 2-day FOMC meeting later this afternoon, where Fed Chair Powell might strike a hawkish tone.
US Treasury Secretary Bessent and US Trade Representative Greer will travel to Switzerland for trade talks on Saturday and Sunday with Chinese Vice Premier He Lifeng. Bessent said the talks focus on de-escalating the tariff standoff between the two countries. He added that the current tariff rates aren't sustainable and are equivalent to a trade embargo.
