GLDI - Dollar Stabilizes After Yesterday's Shellacking But Finds Little Traction
2025-06-27 07:20:00 ET
Overview
The US dollar has steadied today after yesterday's shellacking that saw it fall to new multiyear lows against the euro and sterling and 10-year lows against the Swiss franc. The news stream is somewhat more supportive today, with trade deals said to be in the works, in addition to the confirmation/clarification of an agreement with China. The US got an exemption from the OECD's Pillar 2 corporate tax reform, and the onerous "revenge tax" of Section 899 of the budget proposal will be dropped. There is talk that the postponement of the so-called reciprocal tariff may be extended for the current deadline of July 9. While the greenback has steadied, it has found little traction and remains largely pinned near yesterday's lows....
Dollar Stabilizes After Yesterday's Shellacking But Finds Little Traction