Dollar Dominates as Trump Mulls Emergency Economic Measures
The dollar continued to strengthen amid rising U.S. bond yields. Reports of Donald Trump's consideration of emergency economic measures added momentum. The euro and Britain's pound fell, while U.S. economic indicators suggested inflation risks. Financial markets are wary ahead of key U.S. data and Trump's pending policy announcements.

The dollar gained momentum for the second consecutive day on Wednesday, bolstered by higher U.S. bond yields and speculations about Donald Trump's potential emergency economic measures. The CNN report suggesting Trump's consideration of a national economic emergency for new tariffs fueled the dollar's advance.
The dollar index rose by 0.5% to 109.24, approaching the two-year high of 109.58. This put pressure on other currencies, with the euro dropping to $1.0293 and Britain's pound falling sharply to $1.2342. Strong U.S. economic data added to inflation concerns, pushing Treasury yields up.
Market anxiety is high as traders await critical U.S. labor data and Trump's forthcoming policy agenda. The British pound, vulnerable to non-data-driven yield rises, faced additional stress amid negative market sentiment towards the UK government's budget plans.
(With inputs from agencies.)
ALSO READ
South Korea and China Unite Against Trade Challenges Amidst U.S. Tariffs
Escalation in Eastern Europe: Russia's Renewed Offensive
Tata's Strategic Expansion: Strengthens Grip in European Automotive Market
Tragedy in Myanmar: Earthquake and War Compound Crisis
Space Giants Unite: Europe's Satellite Merger Talks Ignite