US dollar index collapses near five month low

The US dollar index has slipped under 103 mark to test five month low and could offer some support to the INR later on in the day. Dollar index lost around 1% in last session and added to these losses today as equities reeled under pressure and US 10 year treasury yields fell near 4%, testing a five month low. US President Donald Trump announced a sweeping 10% tariff on all imported goods, with even steeper reciprocal duties for certain nations. Trump unveiled new trade measures, slapping a 24% reciprocal tariff on Japan, despite its status as one of the United States' closest allies. China faces an additional 34% tariff, adding to the existing 20% levies. Meanwhile, the European Union, and others will see tariffs ranging from 20% to 49%. Additionally, the White House announced a 25% tariff on foreign-made automobiles and key auto parts. Dollar index has shed another 1% today to quote at 102.47 right now.

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