- The US dollar index can expand its gains while the Federal Reserve maintains a careful policy stance.
- Fed chair Jerome Powell has warned that US trade tariffs can break inflation targets and work at the central bank in 2025.
- U.S. President Donald Trump is expected to open a new trade deal on Thursday.
The US Dollar Index (DXY), which measures the US dollar (USD) against a basket of six major currencies, expands the acquisitions for a second straight session, walking near 100.00 at the time of writing. The DXY can continue to get the ground in the middle of the careful federal reserve policy (FED) policy.
On Wednesday, the Fed maintained interest rates that did not change by 4.25%-4.50%, while recognizing increased risks related to inflation and unemployment, increasing fresh uncertainty in the market outlook. Despite the pause, the CME Fedwatch's tool shows businessmen who are still pricing a 25-base-point rate cut in July.
During the post-meeting press conference, Fed chair Jerome Powell warned that US trade tariffs could hinder the goals of Fed's inflation and work in 2025. He signed that the ongoing policy instability could force the central bank to make a more careful, waiting-and-see approach to the moving rates of the future.
Meanwhile, “The New York Times”, citing three resources, reports that President Donald Trump is expected to announce a new trade deal on Thursday. On Wednesday night, Trump tempted the news on social media: “Big news conference tomorrow at 10:00 am, the Oval Office, about a major trade deal with representatives of a large, and highly respected, country. The first of many !!!”
Separately, US Secretary of Treasury Scott Bescent is set to meet China's leading economic official on May 10 in Switzerland, which aims to survive trade speeches. However, the bessent downplayed expectations, calling the meeting a preliminary step. Trump wrote this stance, claiming China started the dialogue and re -proved his refusal to ease the tariffs to attract Beijing to the table.
US dollar price today
The table below shows the percentage change of the US dollar (USD) against the listed basic currencies today. The US dollar is the strongest against Swiss Franc.
| USD | EUR | Gbp | Jpy | Cad | Aud | Nzd | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.27% | 0.17% | 0.46% | 0.31% | 0.32% | 0.36% | 0.70% | |
| EUR | -0.27% | -0.08% | 0.20% | 0.01% | 0.05% | 0.09% | 0.43% | |
| Gbp | -0.17% | 0.08% | 0.29% | 0.10% | 0.15% | 0.18% | 0.47% | |
| Jpy | -0.46% | -0.20% | -0.29% | -0.17% | -0.13% | -0.11% | 0.19% | |
| Cad | -0.31% | -0.01% | -0.10% | 0.17% | 0.02% | 0.05% | 0.34% | |
| Aud | -0.32% | -0.05% | -0.15% | 0.13% | -0.02% | 0.04% | 0.34% | |
| Nzd | -0.36% | -0.09% | -0.18% | 0.11% | -0.05% | -0.04% | 0.29% | |
| CHF | -0.70% | -0.43% | -0.47% | -0.19% | -0.34% | -0.34% | -0.29% |
The heat map shows the percentage change of basic currencies against each other. The base currency is taken from the left column, while the quote currency is taken from the top row. For example, if you choose the US dollar from the left column and move to the horizontal line with the Japanese Yen, the percentage shown in the box represents the USD (base)/jpy (quote).
