Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Israeli media: "Israel" won the battle but lost the war strategically and politically
Israeli media: Ben Gurion Airport's airspace closed to air traffic following missile launch from Yemen
Israeli media: Echoes of several explosions heard in central occupied territories
United States: A federal judge temporarily blocks President Donald Trump from deploying 200 Oregon National Guard troops to Portland
Syria: Local sources for Al-Mayadeen: An IOF patrol consisting of 4 vehicles entered the village of Suissa in the southern countryside of Quneitra
Trump on Truth Social: When Hamas confirms, the Ceasefire will be IMMEDIATELY effective
Trump on Truth Social: After negotiations, 'Israel' has agreed to the initial withdrawal line, which we have shown to, and shared with, Hamas
An al-Quds Brigades field commander to Al Mayadeen: We tell the enemy soldiers that we are not far from you, and you will see our faces whenever we decide to, because we are waging a harsh and complex battle of attrition
An al-Quds Brigades field commander to Al Mayadeen: The enemy is advancing toward the heart of Gaza City under the watchful eyes of our Resistance fighters with their tactics focused on valuable targets
An al-Quds Brigades field commander to Al Mayadeen: The enemy is advancing slowly and using unmanned vehicles to uncover and target combat nodes, which we are aware of

Dollar slips vs. euro as markets assess trade deals, tax bill

  • By Al Mayadeen English
  • Source: Agencies
  • 30 Jun 2025 22:52
  • 1 Shares
3 Min Read

The drop is driven by mounting concerns over a ballooning federal deficit, stalled trade negotiations, and global policy uncertainty.

Listen
  • x
  • Dollar slips as markets assess trade deals and tax bill
    A man counts US$100 bills at the craft and art market in Lagos, Nigeria, on August 16, 2023. (AP)

The dollar weakened on Monday against the euro and Swiss franc as markets weighed concerns over a growing US budget deficit and uncertainty surrounding key trade negotiations.

Senate Republicans are pushing to pass President Donald Trump’s expansive tax cut and spending bill, despite internal party concerns over its projected $3.3 trillion addition to the national debt.

The greenback slipped 0.44% to 0.79475 against the Swiss franc, while the euro rose 0.28% to $1.17545. For the month, the dollar is on track to drop 3.4% against the franc, with the euro set to gain around 3.6% against the US currency.

"You have a weak dollar due to a potentially large increase in our budget deficit, and you have continued uncertainty around these tariff deals," said Eugene Epstein, head of structuring for North America at Moneycorp in New Jersey.

Meanwhile, Treasury Secretary Scott Bessent warned that countries could still face significantly higher tariffs on July 9, even if they are actively negotiating. He noted that decisions on extensions would ultimately rest with President Trump.

Related News

Trump’s tariffs begin to squeeze US shoppers’ wallets: FT

Trump authorizes Chicago deployment as judge blocks Portland operation

Last week, Bessent confirmed that the US and China had resolved issues related to Chinese shipments of rare earth minerals and magnets, further amending a trade agreement originally reached in May in Geneva.
 
According to Epstein, "We had this positive news from the EU for a little bit and we had potential positive deals coming up, but then you had Trump doing a temporary about-face on Friday on Canada and so forth."

Canada tax pause and global currency moves

The dollar also slipped 0.19% to 144.33 against the Japanese yen on Monday, putting it on track to end the month nearly unchanged versus the yen.

In a move aimed at easing tensions with Washington, Canada paused the rollout of a new digital services tax targeting US tech giants just hours before it was set to take effect. The decision is seen as an effort to revive stalled trade talks between the two countries.

The Canadian dollar gained on the news, rising 0.36% to C$1.36 per US dollar and heading for its fifth consecutive monthly gain against the greenback.

The US dollar index, which tracks the greenback against a basket of major currencies including the yen and euro, dipped 0.15% to 97.05. It’s on pace for its sixth straight monthly decline and is set to log its worst half-year performance since the 1970s.

"It's kind of rotating a game of musical chairs, whether it's the 'big beautiful bill', the trade deals, and then the Iran-Israel conflict. It's all like taking turns to be at center stage; once one thing passes and the other thing is focused on," Epstein noted.

Elsewhere, the British pound edged down 0.12% to $1.3698, while the Australian dollar climbed 0.52% to $0.6563.

  • US President Donald Trump
  • tax bill
  • US Federal Reserve
  • USD
  • Trump
  • United States
  • US dollar

Most Read

Hamas fighters stand in formation ahead of a ceremony to hand over Israeli captives to the Red Cross in Nuseirat, Gaza Strip, Feb. 22, 2025. (AP)

Hamas reviews Trump’s Gaza ceasefire plan as PIJ rejects

  • Palestine
  • 30 Sep 2025
Iraq at a crossroads: A new war front?

Iraq at a crossroads: A new war front?

  • West Asia
  • 30 Sep 2025
A Hamas fighter in combat fatigues stands before the ceremony for the handover of Israeli captives to the Red Cross in Nuseirat, central Gaza Strip, Saturday, February 22, 2025 (AP)

Hamas responds to Trump plan, backs Gaza withdrawal, exchange

  • Politics
  • 3 Oct 2025
Trump’s 21-point Gaza plan vs Netanyahu’s demand for Hamas defeat

Trump vows 'something special' in ME; Israeli delegation in chaos

  • US & Canada
  • 28 Sep 2025

Coverage

All
War on Gaza

Read Next

All
Activists deported to Turkey after 'Israel' hijacks Sumud Flotilla
West Asia

137 activists arrive in Turkey after 'Israel' hijacked Sumud Flotilla

Law enforcement hold back protesters near an Immigration and Customs Enforcement facility in Broadview, Ill., Friday, Oct. 3, 2025 (AP)
Politics

Black Hawks and break-ins: Chicago immigration crackdown intensifies

WP: American Jews increasingly critical of 'Israel' over Gaza War
US & Canada

Majority of American Jews say 'Israel' committed war crimes in Gaza

David Ellison and his father, Larry Ellison, at the “Rebels With a Cause” gala in Hollywood, in 2014 (AP)
Politics

The Ellisons take US media power structure by storm, reshape industry

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS