INSUBCONTINENT EXCLUSIVE:
The dollar headed for its first weekly gain since mid-March on Friday, after China granted some exemptions to U.S
currency has been whipsawed this week by conflicting signs for a thaw in fraught relations between Washington and Beijing.On Tuesday, U.S
President Donald Trump suggested a de-escalation of their tit-for-tat tariff battle, saying direct talks were already underway
some exemptions from its 125% tariffs on U.S
imports and was asking companies to identify the goods that could be eligible.The dollar was higher against a basket of currencies , rising
market strategist Fiona Cincotta.However, even with some exemptions in place, there was still not enough clarity over the bigger picture to
dollar was up 0.5% on the day against the yen at 143.355 and was up roughly the same amount against the Swiss franc at 0.831 francs.The euro
fell 0.3% to $1.135, while the pound declined 0.3% to $1.3294 even after surprisingly strong UK retail sales figures.Trump had rocked the
dollar at the start of the week, sending it spiralling lower against other major currencies with his threats to fire Fed Chair Jerome Powell
for not cutting interest rates quickly enough
It then jumped back on Tuesday when the president said he never had any intention of replacing the central bank boss.Washington has made
some progress in early trade talks with Asian allies South Korea and Japan.The Japanese Finance Minister Katsunobu Kato said after meeting
Treasury Secretary Scott Bessent that there were no talks on currency targets
tariff rates, a hit to U.S
growth is still coming that will ensure volatility levels remain higher, equity markets are pressured to the downside and the global
projected, but repeated that policymakers needed to scrutinise the fallout from U.S
straight month.The BOJ is widely expected to leave policy settings unchanged at its two-day meeting that ends on May 1.Source:
