Dollar wallows near 3-1/2-year low as Fed cuts, Trump bill in focus

July 2, 2025

The US dollar is near its lowest since February 2022. Federal Reserve Chair Jerome Powell hinted at possible rate cuts. Donald Trump’s spending bill could increase national debt. Trump criticized Powell’s monetary policy. The dollar held steady against the Swiss franc. The euro remained flat. Sterling rose slightly. The dollar gained a bit against the yen.

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The Reserve Bank of India has relaxed norms for business accounts. Customers can now open current, cash credit, and overdraft accounts more easily. The aggregate

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RBI eases restrictions on cash credit accounts, eases current account norms

The Reserve Bank of India has lifted all restrictions on banks opening and maintaining cash credit accounts, offering greater flexibility for short-term working capital loans.

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