Market Relief as Trump Eases Tariff Threats

The U.S. dollar faced losses after President Trump signaled a measured approach to tariffs, relieving trade-exposed currencies. His inauguration speech focused on immigration and energy policies. Market reactions were swift, with the dollar index dropping sharply.

The dollar experienced significant losses following President Trump's inauguration, where he stopped short of aggressive new tariff announcements.

Market participants took comfort in the absence of immediate tariff measures, leading to a decline in the dollar index by 1.2% and changes in global currency positions.

Investors remain watchful of economic policies, with rate cut probabilities rising amid eased inflationary concerns. Trump's crypto support sent Bitcoin soaring to new heights.

(With inputs from agencies.)