Turbulence for the US Dollar Amid Trade and Economic Uncertainty

The U.S. dollar stumbled against major currencies on Thursday, as the market awaited retail sales data expected to reveal insights into consumer strength amid tariff uncertainties.

Optimism over a trade deal between the U.S. and China waned, causing the greenback to relinquish earlier gains despite a 90-day tariff pause announcement.

Safe-haven currencies strengthened, with significant gains recorded by the Japanese yen and Swiss franc. Meanwhile, the South Korean won experienced a surge following exchange rate discussions with U.S. officials, reminiscent of Taiwan's currency jump post-trade talks in May.

(With inputs from agencies.)