US Dollar Index remains above 97.00 due to easing US-China tensions

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  • The US Dollar Index strengthens as signs of easing tensions between the US and China emerge.
  • Yields on the US two-year and 10-year Treasury notes remain subdued, holding at 3.75% and 4.24%, respectively.
  • The Federal Reserve (Fed) remains in blackout mode ahead of its May 7 Federal Open Market Committee (FOMC) meeting.

The US Dollar Index (DXY), which tracks the USD against six major currencies, continues to rise for the second consecutive day, trading near 99.60 during Asian hours on Monday. The US Dollar (USD) strengthens amid signs of easing tensions between the US and China.

On Friday, China exempted certain US imports from its 125% tariffs, fueling optimism that the prolonged trade war between the world’s two largest economies may be nearing its end. However, Reuters reported that a Chinese embassy spokesperson firmly denied any ongoing tariff negotiations, stating, "China and the US are not having any consultation or negotiation on tariffs." The spokesperson urged Washington to "stop creating confusion."

The yields on the US two-year and 10-year Treasury notes remain subdued at 3.75% and 4.24%, respectively, on Monday, as investors prepared for key economic reports this week that may shed light on the initial impact of President Donald Trump's tariffs.

On Sunday, US Agriculture Secretary Brooke Rollins told Reuters that the Trump administration is holding daily discussions with China regarding tariffs. Rollins also emphasized that trade agreements with other countries are "very close" to being finalized.

Meanwhile, the Federal Reserve (Fed) remains in blackout mode ahead of its May 7 Federal Open Market Committee (FOMC) meeting. Traders are closely watching several key US economic releases this week, including the preliminary Q1 GDP report, March PCE inflation data, and April jobs figures. These reports are expected to offer important insights into the Fed's next policy decisions and the broader economic outlook.

US Dollar PRICE Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the British Pound.

USD EUR GBP JPY CAD AUD NZD CHF
USD 0.02% 0.08% -0.09% 0.01% 0.07% -0.07% -0.18%
EUR -0.02% 0.00% -0.11% -0.02% -0.05% -0.10% -0.22%
GBP -0.08% -0.01% -0.13% -0.01% -0.08% -0.11% -0.21%
JPY 0.09% 0.11% 0.13% 0.15% 0.20% -1.37% 0.18%
CAD -0.01% 0.02% 0.01% -0.15% -0.07% -0.09% -0.18%
AUD -0.07% 0.05% 0.08% -0.20% 0.07% -0.04% -0.15%
NZD 0.07% 0.10% 0.11% 1.37% 0.09% 0.04% -0.10%
CHF 0.18% 0.22% 0.21% -0.18% 0.18% 0.15% 0.10%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

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