Forex News: U.S. Dollar Strengthens On Trump's Tariff Delay

U.S. Dollar Strengthens On Trump's Tariff Delay

(RTTNews) - The U.S. dollar was higher against its major counterparts in the New York session on Tuesday amid easing trade tensions between the U.S. and the European Union.

President Donald Trump delayed the implementation of 50 percent tariffs on imports from the European Union to July 9 from June 1.

"I received a call today from Ursula von der Leyen, President of the European Commission, requesting an extension on the June 1st deadline on the 50% Tariff with respect to Trade and the European Union," Trump said in a post on Truth Social on Sunday.

"I agreed to the extension - July 9, 2025 - It was my privilege to do so," he added. "The Commission President said that talks will begin rapidly."

The move by Trump comes as analysts previously suggested the threatened tariff on the EU was just a negotiating tactic and not where the eventual rate will wind up.

The greenback climbed to 4-day highs of 1.3499 against the pound and 1.1322 against the euro. The currency is seen finding resistance around 1.33 against the pound and 1.12 against the euro.

The greenback advanced to 4-day highs of 0.6434 against the aussie, 0.5940 against the kiwi and 1.3782 against the loonie. The currency may find resistance around 0.63 against the aussie, 0.58 against the kiwi and 1.39 against the loonie.

The greenback firmed to a 4-day high of 0.8280 against the franc and a 6-day high of 144.45 against the yen, from an early nearly 3-week low of 0.8188 and a 4-week low of 142.10, respectively. The next possible resistance for the currency is seen around 0.88 against the franc and 149.00 against the yen.

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