Greenback Rebounds, Faces Ongoing Pressure
The dollar index rebounded slightly to 99.7 on Thursday, after experiencing three consecutive days of decline, though it remains close to its lowest level in two weeks. Investor sentiment remains wary amid persistent concerns regarding the US fiscal outlook. The House is anticipated to vote today on President Trump's new tax plan, which is expected to increase the budget deficit by nearly $3 billion over the next decade. Furthermore, the ongoing lack of progress in trade negotiations continues to dampen market confidence, leading to renewed risk aversion and a shift away from US assets. Meanwhile, Japan's Finance Minister reported that no discussions on foreign exchange occurred with US representatives during the G7 finance ministers' meeting.
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