Dollar index steadies close to multi-month lows amid weak macros; Tariff announcements eyed

The dollar index is steadying a tad lower than 104 mark on Wednesday morning in Asia awaiting clarity on Trumps reciprocal tariff announcements on its trading partners, which are due to be imposed on Wednesday, April 2nd. Markets stays cautious ahead of April 2 'Liberation Day' tariff announcement. Meanwhile, benchmark treasury yields and dollar index tumbled amid concerns surrounding US economy. US ISM Manufacturing PMI fell sharply in March, dropping from 50.3 to 49.3, signaling contraction in the sector. Meanwhile, JOLTS report from the US Department of Labor showed that job openings decreased to 7.568 million in February, down from 7.762 million and missing the forecast of 7.63 million. The dollar index that measures the greenback against a basket of currencies is quoting at 103.95, almost flat on the day.

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