Dollar Surges Amid Strong U.S. Data and Tariff Optimism
The dollar reached a three-week high against the yen following strong U.S. services data and positive news on tariffs. President Trump indicated some relief in tariff impositions, boosting the dollar and Wall Street. A rally in U.S. services and weakening Japanese economy further strengthened the dollar's position.
The dollar experienced a significant rise, hitting a three-week high against the yen early Tuesday, bolstered by robust U.S. services data and optimistic developments regarding tariffs.
President Donald Trump announced that not all proposed tariffs would be implemented by April 2, with potential exemptions for some countries. This news alleviated fears of a U.S. growth slowdown and buoyed the dollar and Wall Street overnight.
Additionally, strong U.S. PMI figures and weakness in Japan's economy contributed to the dollar's upward momentum, with notable gains against the euro and sterling. Market uncertainties remain over impending tariffs, despite recent bullish moves.
(With inputs from agencies.)
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- U.S. services
- Wall Street
- U.S. growth
- PMI figures
- Trump
- Australian dollar
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