BREAKING: US Dollar strengthens amid Trade optimism and Fes uncertainty

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The US dollar is trading positively for the second consecutive day, bolstered by strong US economic data and renewed optimism on trade deals. The US Dollar Index (DXY) has edged higher, hovering around 97.77, after touching a two-week low earlier in the week.

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Positive economic indicators, including better-than-expected weekly Initial Jobless Claims and steady Purchasing Managers Index (PMI) figures, have eased recession concerns, supporting the view that the US economy remains resilient. Recent progress on bilateral tariff deals between the US and countries like Japan, Indonesia, and the Philippines has also improved risk sentiment

US President Donald Trump visited the Federal Reserve’s Washington headquarters, a rare move, and pressed for interest rate cuts. Trump stated that the central bank is “moving too slowly” and should do more to support growth. However, he added that he has “no plans” to remove Fed Chair Jerome Powell from his post. Trump later described his meeting with Powell as “good” and said he believes Powell “might be ready to cut rates.”

The Federal Reserve’s monetary policy decision is set for next Wednesday, with markets expecting interest rates to remain steady in the 4.25%-4.50% range. According to a Reuters poll, 100% of economists anticipate the Fed will hold its benchmark rate steady, with most forecasts pointing to September for potential rate cuts.

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