Dollar Edges Higher as Trump Addresses Congress
The dollar index rose 0.25% to around 105.8 on Wednesday, as investors closely followed President Donald Trump’s joint address to Congress, where he is expected to discuss key policies including trade, taxes and foreign policy.
However, the index has fallen nearly 2% over the past two days, weighed down by a stronger euro following Germany’s plan to create a €500 billion infrastructure fund and overhaul borrowing rules to boost defense spending and stimulate growth in Europe’s largest economy. Investors also remained focused on a burgeoning global trade war after new U.S. tariffs on Canada, Mexico and China went into effect on Tuesday.
The tariffs prompted retaliatory measures from the affected countries, raising concerns about the potential economic impact on the U.S..
Source: Trading Economics
