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Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
Global Forex Markets Brace for Fed Decision as Yen Extends Weakness 
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Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
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Silver Prices Surge to New Record Above $60 as Supply Concerns and Fed Expectations Boost Demand 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
RBA Holds Rates but Warns of Rising Inflation Pressures 
Asian Stocks Slip Ahead of Fed Decision as China Deflation Concerns Deepen 
China Warns of Rising Global Risks as Tariff Pressures Intensify in 2025 
Wall Street Futures Steady as Markets Await Fed Decision; Nvidia Gains on China Chip Sales Approval 
The U.S. dollar rose slightly on Wednesday as markets remained uncertain about President Donald Trump's tariff plans. Trump hinted at a 10% tariff on Chinese imports starting Feb. 1, alongside potential 25% levies on goods from Mexico and Canada, as well as duties on European imports, but specifics remain unclear.
Following his inauguration, the dollar slid 1.2% against a basket of major currencies but stabilized Tuesday after U.S. officials suggested tariffs would be implemented cautiously. The dollar index held steady at 108.14, with the dollar gaining 0.23% to 155.87 yen. Meanwhile, the euro dipped 0.17% to $1.0410, and sterling fell 0.13% to $1.2343.
Analyst Tony Sycamore noted Trump's measured approach might mitigate inflation risks and potential Federal Reserve rate hikes. Markets currently anticipate a quarter-point Fed rate cut by July, with another reduction by year-end seen as a possibility.
The Canadian dollar slipped 0.1% to C$1.4337, affected by a recent inflation slowdown. The Mexican peso weakened 0.15% to 20.6430 per dollar, while China’s yuan eased 0.24% to 7.2865 in offshore trading after reaching a one-month high on Tuesday.
RBC Capital Markets' Alvin Tan remarked that a 10% tariff on Chinese imports is far below Trump’s campaign rhetoric, suggesting a strategy geared toward negotiations rather than aggressive protectionism, which could weigh on the dollar.
The New Zealand dollar dropped 0.42% to $0.5655 as fourth-quarter inflation stayed within the Reserve Bank’s target range. Markets expect a potential rate cut in February. The Australian dollar fell 0.24% to $0.6258, with rate normalization and easing inflation undermining both currencies.
Analysts believe cautious trade policies and inflation dynamics could influence further dollar movements.
