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: 2025.08.04
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USD recovery remains fragile as tariffs and economic risks mount - BBH
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USD recovery remains fragile as tariffs and economic risks mount - BBH
New
2025.08.04 20:38
2025.08.04 20:38
2025.08.04 20:38
US Dollar (USD) and Treasury yields are steady just above Friday's lows while US equity futures point to a modest rebound. Any USD recovery looks fragile in our view, and the broader downtrend should reassert itself, BBH FX analysts report.
USD recovery fragile amid policy credibility and tariff concerns
"First, US policymaking credibility is increasingly under threat. Fed Governor Adriana Kugler's departure on August 8, gives President Donald Trump an opportunity to appoint a replacement aligned with his monetary policy agenda. Meanwhile, the dismissal of the Bureau of Labor Statistics (BLS) head by President Trump immediately after the poor July jobs data risks damaging perception of US economic data integrity."
"Second, the US economy is showing cracks while the full hit from tariffs has yet to come. The average effective US tariff rate is estimated at 18.3% as of August 1, the highest since 1934. That's up from 2.4% in January, 7% in May and roughly 16% in June and July. The higher tariffs are projected to lower real GDP growth by -0.5 percentage points in both 2025 and 2026 and increase consumer prices by 1.8% in the short-run."
Last updated
: 2025.08.04
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EUR/GBP dips as traders reposition ahead of BoE interest rate decision
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The Canadian Dollar keeps most of the ground it gained on Friday as the US Dollar Index fell about 0.8% as US employment data revealed that job growth increased much less than expected, and data from previous months was revised sharply lower.July's US Nonfarm Payrolls report crushed the view of a re
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2025.08.04 20:52NZD/USD: Any advance is likely part of a higher range of 0.5885/0.5935 - UOB Group
Scope for New Zealand Dollar (NZD) to rise further, but any advance is likely part of a higher range of 0.5885/0.5935. In the longer run, slowdown in momentum indicates that the odds of NZD reaching 0.5845 are low, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
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2025.08.04 20:45China: Playbook to reflate the economy - Standard Chartered
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2025.08.04 20:42AUD/USD: Likely to trade in a sideways range of 0.6430/0.6495 - UOB Group
Australian Dollar (AUD) is likely to trade in a sideways range of 0.6430/0.6495. In the longer run, downward momentum is slowing; a breach of 0.6520 would indicate that AUD is not breaking below 0.6405.
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2025.08.04 20:39USD recovery remains fragile as tariffs and economic risks mount - BBH
US Dollar (USD) and Treasury yields are steady just above Friday's lows while US equity futures point to a modest rebound. Any USD recovery looks fragile in our view, and the broader downtrend should reassert itself, BBH FX analysts report.
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2025.08.04 20:34Disclaimer:
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