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Forex News: U.S. Dollar Higher As Trump Delays Tariff Deadline

U.S. Dollar Higher As Trump Delays Tariff Deadline

07/08/2025 - 17:20:00 (RTTNews)

(RTTNews) - The U.S. dollar climbed against its major counterparts in the New York session on Tuesday, as President Donald Trump announced a delay in implementation of tariffs to August 1.

The Trump administration said that new tariffs on imports will take effect on August 1, instead of the July 9 deadline.

However, Trump imposed tariffs on 14 countries, with duties in range of 25 percent to 40 percent.

The Federal Open Market Committee will release minutes from the June 17-18 meeting on Wednesday.

The greenback climbed to a 2-week high of 1.3524 against the pound and near a 2-week high of 1.1682 against the euro. The currency is poised to find resistance around 1.33 against the pound and 1.13 against the euro.

The greenback advanced to a fresh 2-week high of 146.97 against the yen and an 8-day high of 0.7994 against the franc. The next possible resistance for the currency is seen around 150.00 against the yen and 0.84 against the franc.

The greenback rose to a 2-week high of 0.5979 against the kiwi and an 8-day high of 1.3694 against the loonie. The currency may find resistance around 0.58 against the kiwi and 1.39 against the loonie.

The greenback recovered against the aussie and was trading at 0.6527. The currency is seen finding resistance around the 0.62 level.

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