The U.S. dollar came under slight pressure on Wednesday as financial markets adopted a cautious tone ahead of key labor market data. This weakness was amplified by renewed trade frictions, particularly following the enforcement of increased tariffs on steel and aluminum imports, signaling potential volatility ahead.
The U.S. dollar opened the week on a weaker note, reflecting renewed market anxiety over protectionist trade policies and their potential to curb economic growth while fueling inflationary pressures.
The US dollar continued to decline against the Egyptian pound during Mondays trading, breaking below the EGP 50 mark for buying, recording a low of EGP 49.93 in some banks.
The U.S. dollar continued its decline during Asian trading hours, edging closer to a three-year low as growing concerns over the independence of U.S. monetary policy and increasing political pressure on the Federal Reserve weighed heavily on investor sentiment.
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