Back in the spring, practically everything revolved around tariffs, and even the slightest announcement could cause turmoil in the foreign exchange markets. Now, however, the market is hardly reacting to the threat of 100% tariffs on pharmaceuticals.
US Dollar (USD) continued to drift lower on dovish remarks from Fed officials, surprise turn lower in Philadelphia business outlook, extended US government shutdown, falling UST yields and the negative sentiments on some US regional banks over exposure to auto bankruptcy.
Dow Jones Index futures are showing minor gains during Friday’s European morning session, but remain close to the weekly low on Thursday.