Overview

• The U.S. dollar continues to decline against major currencies, with the euro and British pound gaining strength ahead of President Trump's tariff announcement later today.
• Trump's tariffs are expected to impose broad duties on imports from nearly all countries, raising concerns of a global trade war and stagflation in the U.S. economy.
• Commodity currencies like the Australian and New Zealand dollars are strengthening, as they are perceived to be less exposed to U.S. trade policies.
• The Japanese yen, traditionally a safe-haven currency, has weakened slightly, reflecting complex global market dynamics.
• Global trade partners signal potential retaliatory measures, while the EU and Germany focus on growth-friendly policies to bolster their economies.