Trump's Tax-Cut Bill Sends Dollar Tumbling Amid Global Market Volatility
The U.S. dollar faced challenges as investor sentiment was hit by President Trump's tax-cut plan, raising concerns of increased U.S. debt. Global markets responded robustly, with the euro strengthening. As tariffs were delayed, focus now shifts to Senate discussions on the bill's economic implications.
The U.S. dollar remains under pressure as investors react to President Trump's proposed tax-cut bill, which is stirring concerns over potentially rising national debt.
While global markets and the euro gained ground on Monday, the focus is now on the U.S. Senate's debate on the bill, following Moody's recent U.S. credit downgrade.
As tensions around U.S. tariffs eased, the euro surged. Investors are watching whether the European Central Bank can bolster the single currency as a dollar alternative.
(With inputs from agencies.)
- READ MORE ON:
- dollar
- economy
- U.S. debt
- investors
- tariffs
- euro
- U.S. Senate
- Moody's
- global markets
- Trump
Advertisement
ALSO READ
Australia central bank says higher US tariffs a drag on global economy
MORNING BID EUROPE-Inflation to set the tone for ECB
Bulgaria is close to joining euro currency but faces disinformation, fear
UPDATE 1-European shares tumble as economic, trade uncertainty muddies growth outlook
UPDATE 1-BOJ's Ueda says economy can withstand hit from US tariffs
Google News