The dollar strengthened Friday as President Trump’s comments suggested economic adviser Kevin Hassett is unlikely to chair the Federal Reserve, boosting political credibility. Meanwhile, Japan warned of currency intervention as the yen weakened significantly against the dollar, with some Bank of Japan policymakers considering earlier rate hikes to combat inflation.
US signals possible rollback of 25% tariff on India as Russian oil imports fall
The US has hinted at removing the additional 25% tariff on India after New Delhi sharply cut Russian oil imports. Treasury Secretary Scott Bessent said