Dollar wallows near 3-1/2-year low as Fed cuts, Trump bill in focus

Dollar wallows near 3-1/2-year low as Fed cuts, Trump bill in focus

Source: EODHD - https://www.investing.com/news/economy-news/dollar-wallows-near-312year-low-as-fed-cuts-trump-bill-in-focus-4120238
Published: Jul 01, 2025 9:26 PM

By Kevin Buckland TOKYO (Reuters) -The U.S. dollar hunkered near the lowest since February 2022 against major peers on Wednesday, as traders considered dovish hints from Federal Reserve Chair Jerome Powell, along with the potential impact of President Donald Trump’s spending bill. The greenback was pinned near its weakest since September 2021 on the euro, and was at its lowest since January 2015 versus the Swiss franc. Powell reiterated on Tuesday at the European Central Bank’s annual conference in Sintra, Portugal that the Fed is taking a patient approach to further interest rate cuts, but didn’t rule out a reduction at this month’s meeting, saying everything depends on incoming data. That...

Market context: This update is relevant to EUR traders, with EURGBP as the primary instrument to monitor for follow-through, trend continuation, or headline volatility.