U.S. Dollar Surges Amid Trade and Tariff Tensions

The U.S. dollar strengthened against major currencies as the Federal Reserve indicated no rush to cut interest rates. Meanwhile, trade tensions under President Trump weaken the Australian and New Zealand dollars. The dollar index remains steady, with upcoming tariff developments likely to influence future market movements.

On Friday, the U.S. dollar gained strength against major currencies, marking its best single-day performance in three weeks. The boost came as the Federal Reserve showed no urgency in cutting interest rates, signaling a steady economic outlook despite global uncertainties.

The Australian and New Zealand dollars continued to struggle following significant declines a day earlier, as concerns over President Donald Trump's aggressive trade tariffs weighed on market sentiment. The dollar index, which measures the greenback against a basket of six peers, held steady at 103.81 after a notable rise on Thursday.

Trade tensions and expected tariffs scheduled for April 2 have the potential to shift market dynamics. As anticipation builds, investors such as Chris Weston from Pepperstone express caution, with market players likely adjusting positions amid the evolving tariff landscape.

(With inputs from agencies.)