Created
: 2025.05.15
2025.05.15 11:37
The US Dollar Index (DXY), which tracks the US Dollar (USD) against a basket of six major currencies, is trading lower at around 100.90 during Thursday's Asian session. The Greenback remains under pressure as investors assess ongoing trade-related uncertainties, despite a recent easing in tensions.
Speculation is growing that Washington may be favoring a weaker dollar to support its trade agenda. The Trump administration has argued that a strong dollar, compared to weaker regional currencies, has put US exporters at a disadvantage.
Improved global trade sentiment has eased recession fears, prompting markets to dial back expectations for Federal Reserve (Fed) rate cuts. LSEG data shows a 74% chance of a 25-basis-point cut in September, down from earlier bets on a July cut, , offering some support to the US Dollar.
On the geopolitical front, senior Iranian official Ali Shamkhani said Wednesday that Iran is willing to sign a nuclear deal with President Trump. NBC reports the proposal includes Iran's pledge to never develop nuclear weapons in return for the immediate lifting of all US sanctions.
Meanwhile, US inflation continues to cool. April's Consumer Price Index (CPI) rose 2.3% year-over-year, slightly below March's 2.4% and market forecasts, marking a three-year low for annual headline inflation. However, this may be the last strong CPI reading for a while, as the Trump administration's upcoming tariffs on key trading partners are set to take effect in May.
The US Dollar's recent rally, driven by hopes of US-China tariff relief, is losing steam as traders refocus on the broader implications of US trade policy. Attention now turns to the upcoming US Retail Sales and Producer Price Index (PPI) data, due later Thursday.
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the Swiss Franc.
USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
---|---|---|---|---|---|---|---|---|
USD | -0.16% | -0.11% | -0.31% | -0.10% | -0.17% | -0.13% | -0.31% | |
EUR | 0.16% | 0.04% | -0.16% | 0.06% | -0.02% | 0.04% | -0.16% | |
GBP | 0.11% | -0.04% | -0.19% | 0.01% | -0.07% | 0.02% | -0.17% | |
JPY | 0.31% | 0.16% | 0.19% | 0.21% | 0.14% | 0.18% | 0.01% | |
CAD | 0.10% | -0.06% | -0.01% | -0.21% | -0.06% | -0.01% | -0.18% | |
AUD | 0.17% | 0.02% | 0.07% | -0.14% | 0.06% | 0.06% | -0.09% | |
NZD | 0.13% | -0.04% | -0.02% | -0.18% | 0.00% | -0.06% | -0.16% | |
CHF | 0.31% | 0.16% | 0.17% | -0.01% | 0.18% | 0.09% | 0.16% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
Created
: 2025.05.15
Last updated
: 2025.05.15
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