The dollar index (DXY00) Wednesday rose by +0.48%. The dollar posted moderate gains on Wednesday on hopes of easing US-China trade tensions after the two countries agreed to trade talks this weekend for the first time since President Trump imposed tariffs on US trading partners. Also, Wednesday’s US economic news supported the dollar after Mar consumer credit rose more than expected. The dollar raced to its high Wednesday afternoon when the FOMC kept interest rates unchanged, and Fed Chair Powell said, “I don’t think we need to be in a hurry to adjust interest rates.”
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.
