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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