US Dollar Index remains bearish after Trump hits EU and Apple with tariffs
The post US Dollar Index remains bearish after Trump hits EU and Apple with tariffs appeared on BitcoinEthereumNews.com. The US Dollar Index sees the previous day’s relief rally pared back in full on Friday. Trump hints to tariffs for EU and starts to target domestic companies as well, with Apple’s Iphone facing 25% tariff. The US Dollar Index extends losses and is on its way to test a fresh two-week low near 99.14. The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, dips further on Friday and erases the previous day’s recovery, trading near 99.20 at the time of writing. The fresh leg lower comes after the House of Representatives passed United States (US) President Donald Trump’s spending bill, now on its way to the Senate. The nonpartisan Congressional Budget Office revealed that this “big, beautiful bill” comes with a hefty price tag: $3.8 trillion in additional debt to the federal government’s $36.2 trillion over the next decade, according to Reuters. Markets, and indeed the bond market, have been very concerned about these numbers. The best example was the longer-term 30-year Bond, where yields rallied to 5.15% on Thursday from 4.64% at the start of May, a more than one-year high since the 5.18% seen at the end of December 2023. More concerns could devalue the US Dollar even further. Meanwhile President Trump came out on his social media platform Truth Social by saying that he is considering putting a 50% tariff on EU goods as of June 1st. Apple might face a 25% tariff on its Iphone if the model is not made in the US. Both Apple and EU equities are diving lower on the back of this news. Daily digest market movers: No surprise whatsoever United States Secretary of the Treasury Scott Bessent gave further details on President Trump’s comments. Bessent said that the EU was…
The post US Dollar Index remains bearish after Trump hits EU and Apple with tariffs appeared on BitcoinEthereumNews.com.
The US Dollar Index sees the previous day’s relief rally pared back in full on Friday. Trump hints to tariffs for EU and starts to target domestic companies as well, with Apple’s Iphone facing 25% tariff. The US Dollar Index extends losses and is on its way to test a fresh two-week low near 99.14. The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, dips further on Friday and erases the previous day’s recovery, trading near 99.20 at the time of writing. The fresh leg lower comes after the House of Representatives passed United States (US) President Donald Trump’s spending bill, now on its way to the Senate. The nonpartisan Congressional Budget Office revealed that this “big, beautiful bill” comes with a hefty price tag: $3.8 trillion in additional debt to the federal government’s $36.2 trillion over the next decade, according to Reuters. Markets, and indeed the bond market, have been very concerned about these numbers. The best example was the longer-term 30-year Bond, where yields rallied to 5.15% on Thursday from 4.64% at the start of May, a more than one-year high since the 5.18% seen at the end of December 2023. More concerns could devalue the US Dollar even further. Meanwhile President Trump came out on his social media platform Truth Social by saying that he is considering putting a 50% tariff on EU goods as of June 1st. Apple might face a 25% tariff on its Iphone if the model is not made in the US. Both Apple and EU equities are diving lower on the back of this news. Daily digest market movers: No surprise whatsoever United States Secretary of the Treasury Scott Bessent gave further details on President Trump’s comments. Bessent said that the EU was…
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