The US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, has dropped over 1%, hovering around 98.00 — its lowest level since March 2022. The decline in the US Dollar is mirrored by a sharp drop in the 2-year US Treasury yield, which has fallen more than 1% to 3.75%.
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The Greenback is under pressure due to growing concerns over the direction of US economic policy and the independence of the Federal Reserve (Fed). Investor unease deepened as political tensions further escalated last Thursday with reports suggesting Trump’s dissatisfaction with Fed Chair Jerome Powell, sparking fears of political interference in monetary policy and casting doubt on the central bank’s autonomy. The White House economic adviser, Kevin Hassett confirming that the option of dismissal is being explored.
The mounting uncertainty on economic fronts has fueled demand for Silver ( XAG/USD), a traditional safe-haven asset in times of instability. Rising US-China trade tensions added to the risk-off sentiment. China pushed back against what it described as US “trade bullying,” warning other nations against yielding to pressure at its expense.
The White House implemented tariffs on Chinese vessels docking at US ports, raising concerns over potential disruptions to global shipping routes. However, by late Thursday, President Trump struck a more conciliatory tone, acknowledging that China had made several overtures. He remarked, “I don’t want to go higher on China tariffs.
If China tariffs go higher, people won’t buy,” signaling caution over further escalation. Trump also expressed optimism, suggesting that a trade agreement between US and China could be finalized within the next three to four weeks.
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