The U.S. Dollar Index remained steady during Wednesday’s trading, as markets awaited U.S. private sector employment data and monitored developments in tariff negotiations led by President Donald Trump with several trade partners.
The Dollar Index—which measures the value of the greenback against six major currencies—held at 99.25 points as of 1:40 p.m. Mecca time.
The euro was unchanged at $1.1376, with attention focused on the European Central Bank’s interest rate decision tomorrow, amid widespread expectations of a rate cut.
The British pound remained steady at $1.352, while the U.S. dollar edged up 0.15% against the Japanese yen to 144.21 yen.
President Donald Trump's administration doubled tariffs on steel and aluminum imports to 50%, amid White House statements about a scheduled phone call between Trump and Xi this week to resolve trade disputes.
Investors are also awaiting the ADP private sector employment report due later today, ahead of the U.S. monthly jobs report set to be released on Friday.
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