New York foreign exchange market: the US dollar rises overall, driven by expectations of reduced tariffs on Autos by Trump.
The USD rose against all other G-10 currencies after reports that the Trump administration would ease the impact of Autos tariffs. Survey data indicated that inflation expectations approached a one-year high, leading to a decline in the Euro. The Bloomberg Dollar Index rose by 0.2% after falling 0.5% on Monday. US stocks increased, while the Yen continued to drop, following reports that President Donald Trump plans to sign an executive order to mitigate the impact of Autos tariffs. A European trader noted that end-of-month capital flows provided support for the USD, larger than usual. Options Trading across various maturities indicates that market sentiment remains bearish on the USD. Due to tariff concerns, the USA in April.
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Analyst: The Swiss Franc central bank governor may open the door for interest rate cuts and intervention in the foreign exchange market in his speech, but further easing may be limited.
ING Groep Analyst Chris Turner noted in the report that Swiss National Bank President Martin Schlegel retains policy space for further interest rate cuts and for aggressively intervening in the foreign exchange market to curb the appreciation of the Swiss Franc. However, the bank is not inclined to restart negative interest rate policies in June as the market expects, and its ability to intervene in the exchange rates is also limited. The report states that if financial market volatility increases this quarter, pushing up demand for safe-haven Assets, the Euro to Swiss Franc exchange rate may quickly drop back to 0.92. According to FactSet data, the Euro against the Swiss Franc is impacted by a reduction in Global safe-haven capital flows and market optimism about trade agreements between the USA and other countries.
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