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2025-08-01 13:45:11
[Dollar Strength Continues, Yen Weakness Draws Government Concern] 1. The US dollar index climbed to 100.14 on Friday, its highest level since May 29th. This week's gain totaled 2.5%, putting it on track for its best weekly performance in nearly three years. After US President Trump announced differentiated tariffs on Canada, Switzerland, and other countries, the US dollar generally strengthened against major currencies, with the Canadian dollar falling to a three-month low of 1.3872 and the Swiss franc retreating 0.26% to 0.8120. 2. The yen continued to weaken after the Bank of Japan stated it was in no rush to raise interest rates. USD/JPY briefly rose to 150.915, an April high, before retreating to around 150.47. Japanese Finance Minister Katsunobu Kato expressed concern and hinted at possible intervention. Asian currencies were generally under pressure, with the Philippine peso falling to a six-month low and the South Korean won also hitting a multi-month low. 3. The market focused on non-farm payroll data: Despite Trump's renewed criticism of the Federal Reserve's policies, the US dollar remained strong. Analysts pointed out that if the US non-farm payroll data tonight shows a moderate slowdown in job growth (expected to add 110,000 jobs), it may strengthen the "Goldilocks" economic scenario, creating conditions for future interest rate cuts by the Federal Reserve. The euro remained near a two-month low, currently trading around 1.1427, up about 0.13%, as the market's pessimistic interpretation of the US-EU trade agreement continued to exert pressure.
