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Barchart
Barchart
Rich Asplund

Dollar Slips Ahead of US-China Trade Talks

United States China ECB Rehn Simkus Williams ECB Governing Council Donald Trump New York Fed US Federal Reserve

The dollar index (DXY00) today fell from a 4-week high and is down by -0.39%. Long liquidation pressures are weighing on the dollar ahead of this weekend's US-China trade talks in Switzerland. Also, today's rally in stocks has curbed liquidity demand for the dollar.  Losses in the dollar accelerated today after New York Fed President Williams said he expects economic growth in the US this year to be "considerably slower" than in 2024, which was a dovish statement for Fed policy.

Fed Governor Kugler said the Fed should hold interest rates steady for now, citing a stable US economy and uncertainty around President Trump's tariffs policy.

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