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US Dollar Plummets to Six-Week Low as Trade Tensions Escalate
US Dollar Plummets to Six-Week Low as Trade Tensions Escalate
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The US dollar has plunged to its lowest level in six weeks, pressured by escalating trade tensions and rising Treasury yields. Treasury Secretary Scott Bessent sought to reassure markets, stating unequivocally that the US will never default on its debt obligations. The dollar index remains under significant strain as Federal Reserve policies and economic uncertainties weigh on its global performance.
Trade disputes and surging Treasury yields have created a perfect storm for the currency, pushing it to levels unseen since late April. Market participants are closely monitoring how these factors will influence the Federal Reserve’s monetary policy stance and subsequent currency movements.
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