US dollar stands tall, euro falters as markets 'recalibrate'

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US dollar stands tall, euro falters as markets 'recalibrate' - Channel News Asia

Quick Summary:

TOKYO : The dollar climbed on Friday against major peers, including the euro, which was set for its first weekly drop this month, as a busy week for central banks wrapped up and caution remained about the impact of a global trade war.The U.S.

The euro had rallied in the past two weeks on German chancellor-in-waiting Friedrich Merz's spending plans although questions about how much and when it will be spent remained.

"We're not going to be in any hurry to move," Fed Chair Jerome Powell said, underscoring the challenge policymakers face in navigating Trump's tariffs policy, and the potential impact on the domestic economy.