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US Dollar Shows Fleeting Strength Amid Market Skepticism
US Dollar Shows Fleeting Strength Amid Market Skepticism
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The US dollar managed a modest rebound from multi-week lows, clawing back to 142.75 yen after testing critical technical support NEAR 140. Treasury Secretary Scott Bessent’s ambivalent comments on exchange rate policy provided temporary relief, though traders remain unconvinced of any fundamental turnaround for the beleaguered currency.
Market technicians note the dollar’s bounce aligned precisely with chart levels watched since early June. The reprieve comes as US-China trade tensions escalate, with Bessent rejecting tariff reductions and labeling the current trade freeze as economically unsustainable. Currency markets appear to be pricing in prolonged volatility as global risk sentiment fluctuates.
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