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The dollar fell to a one-month low after U.S. President Donald Trump called for interest rate cuts and hinted at a possible easing of tariffs on China.
of dollar The index fell 0.7 percent to its lowest level since mid-December, with Trump saying he knows rates “much better” than the Federal Reserve and wants to see them fall “a lot.”
The euro, which has fallen sharply in recent months, rose 0.8 percent to $1.05, while sterling gained 0.7 percent to $1.243.
Trump said he would prefer not to “hit” China with tariffs. Investors sold off the dollar this week after Trump did not immediately implement a widely-anticipated tariff announcement.
The U.S. central bank’s strength in the new president’s push is a key theme this year, fund managers said.
“The pressure is going to be big on the Fed,” said Olivier de Larosiere, chief investment officer for global fixed income at BNP Paribas Asset Management.
There are “good reasons” for investors to start raising rates for 2026 in the coming quarters, so the market will be “closely watching” the Fed’s communications to see if Trump’s speech stops in the coming months, he said. The looming bias.
