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18 April 2024

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Dollar rises versus yen, Swiss franc, and Fed

07-05-2025 11:56 AM


Ammon News - The U.S. dollar rose against the safe-haven yen and Swiss franc while steadying versus the euro as investors looked towards the impending outcome of the Federal Reserve policy meeting later in the session and tariff negotiations.

U.S. Treasury prices rose on Tuesday, as a well-received auction of the benchmark 10-year note suggested demand for Treasuries remained intact after a trade war shook investor confidence in U.S. assets.

The greenback was up 0.54% versus the yen at 143.18 , breaking a three-day falling streak, with Japanese markets reopening after a two-day holiday.

The greenback was up 0.3% against the Swiss franc at 0.8248. On Monday, it hit its lowest level since January 2015 at 0.8032.

The greenback got a "micro bounce" on the impending trade talks, but broad pessimism about the U.S. economy and the dollar remain intact, according to IG analyst Tony Sycamore.

The dollar index a measure of the value of the greenback relative to a basket of foreign currencies slipped 0.05%, extending losses into a fourth day. The euro was down 0.05% at $1.1363.

Earlier this week, a record rally in the Taiwan dollar spread to other currencies in Asia, such as the Singapore dollar and the South Korean won .

The Taiwan dollar has surged against the U.S. currency since U.S. President Donald Trump's April 2 announcement of sweeping tariffs on trade partners.

The won reached a six-month high at Wednesday's opening, but subsequently fell 1.5%. The yuan weakened as China announced a long-awaited rate cut. Reuters




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