USD faces pressure as Trump extends tariff deadline to August 1
USD index has softened 0.2% in early Monday trading as markets digest Trump's decision to extend the tariff implementation deadline to August 1. The delay provides temporary relief to risk assets, with EUR/USD climbing to 1.0845 and GBP/USD testing 1.2530 resistance. Asian currencies showed mixed reactions, with USD/JPY holding steady near 157.20 while commodity currencies gained ground. The only significant economic release today is Eurozone Retail Sales, expected to show a 0.3% monthly increase. Markets remain on edge regarding potential BRICS-related tariffs, which could trigger fresh volatility. Technical indicators suggest USD weakness may extend if the DXY breaks below 108.50 support. Traders are positioning cautiously ahead of this week's key US employment data, with the tariff uncertainty adding another layer of complexity to Federal Reserve rate expectations.
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EURUSD
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USDJPY
DXY
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