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Dollar index (USDX) hits new 2025 lows as EUR/USD vaults 1.0500

Last night, despite coming under pressure, the dollar index (USDX) managed to hold its ground above 108 into the US close. The index ended that session at 108.047. Earlier today it pushed a little higher, reaching 108.19. Well, of course since then it has been largely one-way traffic lower. The EUR/USD has now traded to 1.05 and the GBP/USD is above 1.24. Add those moves to the fall earlier below 155 in the USD/JPY and it has delivered a new 2025 low right now for the index, underneath 107.40. That is some way below the high seen earlier this month, when the index rose to 110.176. The push higher in US yields since this time yesterday is not exactly riding to the rescue either. It is also likely; that Trump may even talk the US currency down in an effort to combat preferable counter party rates, in the event of him increasing tariffs and that is something that has not gotten much airtime, but it may yet do so
 

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