On Monday, EUR/USD dropped again, marking a second consecutive day of declines for Fiber and pushing bids down to the 1.0900 level. Following a short break, the US Dollar is back in control of risk-off flows, with weakening investor sentiment further strengthening the Greenback across the board.
US Treasury Secretary Scott Bessent late Wednesday said late Monday that he has not yet received a trade offer from Japan. Nonetheless, Bessent expects Japan to be prioritized in negotiations due to their early approach, per Fox Business Network.
Chicago Federal Reserve Bank President Austan Goolsbee said late Monday that significant tariff retaliation could boost inflation, adding that global trade war eruption may lead to a consumer behavior shift.
GBP/USD sank again on Monday, extending Cable into a second straight trading day of declines and pushing bids back down to the 200-day Exponential Moving Average (EMA) just north of 1.2700.
The USD/CHF begins Tuesday’s Asian session slightly lower, following a wild trading day on Monday, which saw swings within the 0.8450–0.8673 range, and ended virtually unchanged. At the time of writing, the major trades at 0.8588, down 0.02%.
"Executives from Bank of America, Barclays and Citi were among the participants in a weekend call to discuss the unfolding chaos over President Trump's tariffs blitz, Sky News learns."
The AUD/JPY pair extended its soft tone on Monday ahead of the Asian session, easing toward the 88.50 area. Despite a mild daily decline, the pair remains entrenched in a broader downtrend, trading well beneath its key moving averages.
Silver price sellers failed to decisively clear support at $28.75 daily, and buyers stepped in near yearly lows of $28.33, pushing the grey metal’s price back above $29.80 with traders eyeing the $30.00 mark. At the time of writing, XAG/USD trades at $29.89, up 0.89%.
The Canadian Dollar (CAD) whipsawed to kick off the new trading week, briefly rising after the US Dollar (USD) took a fresh beating on rumors of a possible tariff extension from the Trump administration.
The Greenback added to Friday’s recovery and climbed to three-day highs on the back of the intense safe-haven demand in response to unabated trade tensions following President Trump’s tariffs.
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is trading near the 103 area on Monday after rebounding on Friday.
The Pound Sterling (GBP) plunges over 100 pips or 0.90% against the Greenback at the beginning of the week, driven by recession fears and hopes cut short that the White House could reconsider their position in trade policies over the weekend.
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