There’s still only 36 days to go before Trump’s deadline for trade deals, so time’s a-wasting. That being said, the courts are also still doing battle on the reciprocal tariffs so we’ll have to see how that plays out in the week ahead too.
Amid the uncertainty and policy incoherence, the dollar’s struggle for confidence continued yesterday. The greenback fell to start the new week/month but is now holding a little steadier today at least. It is still put in a vulnerable spot and the pressure remains despite dollar sellers taking their foot off the pedal for now. USD/JPY is hugging closer to 143.00 but the low earlier touched 142.36, pushing close to some short-term support:
The inability to hold a break above 145.00 last week then led to three straight days of declines for the pair, so this for now looks to be a bit of a breather.
Elsewhere, EUR/USD is down 0.2% today but still above the 1.1400 mark at 1.1415 currently. GBP/USD is also down 0.2% but keeping above the 1.3500 level at 1.3518 at the moment.
The antipodeans are the laggards on the day, with AUD/USD down 0.5% to 0.6457 after once again failing at another bid to break the 0.6500 mark:
Besides trade headlines, we are also slowly gearing towards the US jobs report on Friday
