U.S. Dollar Falls Amid Growing U.S. Debt Concerns
23 Mai 2025 - 7:37AM
RTTF2
The U.S. dollar weakened against other major currencies in the
European session on Friday, amid concerns about the fiscal impact
of the U.S. Republican tax cut bill.
The U.S. House of Representatives passed a controversial bill
that could add trillions to the federal government's already
massive debt and widen the deficit at a time when the economy is
facing the risk of stagflation due to tariff uncertainty.
U.S. Treasury yields eased on improved U.S. data and comments
from a U.S. Fed official that he still sees a path to interest rate
cuts later this year.
In the European session today, the U.S. dollar fell to more than
a 3-year low of 1.3489 against the pound, from an early high of
1.3419. The greenback may test support near the 1.36 region.
In economic news, the data from the Office for National
Statistics showed that U.K. retail sales rebounded more than
expected in April as good weather boosted food store sales. Retail
sales grew 1.2 percent on a monthly basis in April, following a
revised 0.1 percent rise in March. Sales were expected to climb
only 0.3 percent.
A monthly survey today showed that British consumer confidence
strengthened in May on hopes of easing trade tensions and the
interest rate reduction by the Bank of England. The GfK consumer
confidence index rose to -20 in May from -23 in April, survey
results showed Friday. All five key indicators improved in May, led
by two forward-looking findings.
The greenback slipped to more than a 2-week low of 1.3809
against the Canadian dollar, from an early high of 1.3859. On the
downside, 1.36 is seen as the next support level for the
greenback.
Against the yen, the euro and the Swiss franc, the greenback
edged down to 143.24, 1.1345 and 0.8255 from early highs of 144.02,
1.1279 and 0.8289, respectively. If the greenback extends its
downtrend, it is likely to find support around 141.00 against the
yen, 1.14 against the euro and 0.81 against the franc.
Looking ahead, Canada retail sales data for April, U.S. existing
home sales data for March and U.S. Baker Hughes oil rig count data
are slated for release in the New York session.
US Dollar vs Yen (FX:USDJPY)
Graphique Historique de la Devise
De Mai 2025 à Juin 2025
US Dollar vs Yen (FX:USDJPY)
Graphique Historique de la Devise
De Juin 2024 à Juin 2025
