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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange]: Tariff deadline is approaching and the Federal Reserve's policy is doubtful, and the US dollar index is under pressure and declines." Hope it will be helpful to you! The original content is as follows:
XM Forex APP News - On Tuesday (July 22), the US dollar index failed to hold the high of 98.95 last week (this point briefly broke through the resistance level, but then returned to the sell pressure), and fell slightly during the day. The 50-day moving average is currently at 98.60, and has turned downward in recent trading days. The index is currently trading at 97.545, slightly below the 50% retracement level (97.664) of the recent rise from 96.377 to 98.95. Price fluctuations near this key point indicate that the buyer is losing control. As the August 1 deadline approaches, tariff uncertainty curbs the dollar's strength and the dollar's decline, investors are cautious about the August 1 deadline - a date that could trigger the United States to impose high tariffs on non-cooperative trading partners. US Treasury Secretary Scott Besent stressed that this administration attaches more importance to the quality of trade agreements than time, and does not rule out the possibility of extending the deadline. The trading range of the foreign exchange market narrows, traders are waiting for a clear signal, and most choose defensive positions. The euro stabilized at 1.1702 against the dollar, and the yen is currently hovering around 147.485 after rising 1% on Monday due to the Japanese Senate election. Political concerns in Tokyo and ongoing trade uncertainty with the United States may limit the upside of the yen. Meanwhile, EU diplomats said they are preparing to take countermeasures as the possibility of a trade deal with Washington is becoming increasingly slim. The Federal Reserve's July meeting is approaching, and the pressure of review has intensified market focus and the Federal Reserve's meeting from July 29 to 30 is expected to adjust interest rates at this meeting. Federal Funds Futures show that a 95% probability is that the target interest rate range will remain at 4.25%-4.5%. But growing political pressure is attracting traders' attention. President Trump continues to push for interest rate cuts and openly calls on Fed Chairman Jerome Powell to resign. Becente retorted on Tuesday that Powell did not need to resign but called for a vejck.cnprehensive internal review of the Fed's operations. Powell has not expressed his intention to resign. Meanwhile, Fed Director Michelle Bowman defended the Fed's independence, but pointed out that greater transparency and accountability are needed. In cautious trading, U.S. Treasury yields fell slightly as traders remained on the verge of waiting and watching before next week's policy resolution. The yield on the benchmark 10-year Treasury bond fell 3.4 basis points to 4.336%, while the yield on the 2-year Treasury bond fell to 3.829%. Economic data this week are lighter, including data on existing home sales on Wednesday, number of initial jobless claims on Thursday and durable goods orders on Friday. Market Outlook: Unless the Federal Reserve or tariff news breaks the deadlock, the US dollar will fluctuate in range (
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