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Currency News

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(29 Apr 2025, 16:30)

Dollar index stays supported above 99 mark; Key data eyed


The dollar index rebounded above 99 mark supported by renewed optimism over US-China trade relations. US Treasury Secretary Scott Bessent noted on Monday that he held discussions with Chinese officials last week but did not address tariffs. He emphasized that while communication between the two governments continues, it is up to Beijing to take the first steps toward easing trade tensions, citing the existing trade imbalance. However, uncertainty surrounding the nature of Trump’s trade policy is restricting gains in the greenback. The dollar is also staying upbeat ahead of US Q1 GDP report and April employment data this week to understand US economic outlook. Any unwarranted developments could add pressure on dollar. Currently, the dollar index that measures the greenback against a basket of currencies is quoting at 99.11, up 0.32% on the day.

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