The U.S. dollar held its ground on Monday as traders anticipated key developments in trade negotiations between Washington and Beijing, which face an imminent deadline. An impending U.S. inflation report also loomed large, potentially influencing the Federal Reserve’s decision on interest rates.
Despite last week’s downturn and uncertain economic indicators, speculation about the Fed’s easing stance grew. Market sentiment pointed towards a potential rate cut next month, though inflation trends tied to President Trump’s tariffs could sway decisions.
In trade news, the U.S.-China talks centered on the semiconductor sector, with Nvidia and AMD agreeing to allocate 15% of China sales revenues to the U.S. government. Cryptocurrencies surged with Bitcoin and Ether reaching new highs, spurred by recent regulatory relaxations.
(With inputs from agencies.)
