The dollar extended its decline, weighed down by U.S. policy uncertainty
2025-07-01 10:49:10
The dollar fell to its lowest level since February 2022 due to uncertainty over U.S. trade and fiscal policy. The reciprocal tariffs suspended by U.S. President Donald Trump are set to end on July 9. Meanwhile, the U.S. Senate is in the midst of a marathon vote on Trump's tax and spending bill. Investors have become more cautious ahead of the release of key U.S. job market data this week. The data includes JOLTs job openings data to be released on Tuesday, as well as a non-farm payrolls report on Thursday. Deutsche Bank analyst Volkmar Baur said in a note that the much lower-than-expected data will increase the likelihood that the Federal Reserve will cut interest rates in July and could further weaken the dollar.
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