Christopher Tahir

The US Dollar index extended losses on Monday, falling below the 99 mark and reaching its lowest level in over a month. The currency could remain under pressure due to the persistent concerns over the fiscal trajectory of the US and growing uncertainty around President Trump’s trade policy.

Although President Trump delayed the implementation of 50% tariffs on European Union goods until July 9, investor sentiment remained fragile. Additionally, renewed threats to impose a 25% tariff on iPhones not manufactured domestically reignited broader protectionist fears.

Meanwhile, the Trump tax bill could find resistance in the Senate, adding to fiscal uncertainty and dampening confidence in US assets.

Looking ahead, investor attention will shift to upcoming data, including Durable Goods Orders, GDP, and PCE. Weak data could deepen selling pressure, while robust figures may offer the greenback some relief.

Tahir ia Senior Market Strategist at Exness