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Asian stocks waver, dollar frail as Trump's tariffs, US rate path weighs

  • On July 2, Asian stocks slipped and the U.S. dollar languished near three-and-a-half-year lows amid rising tensions over President Trump's approaching July 9 tariff deadline.
  • The approaching tariff deadline and Trump's trade policies created uncertainty that, along with concerns over a massive U.S. tax-and-spending bill, weakened investor confidence in the U.S. economy.
  • Investors anticipated the Federal Reserve would wait to assess tariff impacts on inflation before adjusting interest rates while U.S. labor data showed resilience with rising job openings.
  • The dollar dropped over 10 percent this year, marking its worst first half since the 1970s, while gold rose 27 percent on safe-haven demand, and strategist Carol Kong noted disappointing data could trigger more rate cut pricing and dollar selling.
  • Market uncertainty and fiscal concerns related to Trump’s tariff policies and tax-and-spending bill suggest persistent volatility in currency and equity markets as July 9 approaches.
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Market Report: Markets mixed as tariff deadline looms and clouds hover over further rate cuts

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U.S. News broke the news in New York, United States on Tuesday, July 1, 2025.
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