Market on tenterhooks amid tariff and geopolitical uncertainty
Performance: The ringgit edged weaker than expected, trading between 4.44 and 4.47 against the USD. The USD index (DXY) remained firm around 108.0, underpinned by strong US labour market data and renewed tariff threats, including a fresh 25.0% levy on steel and aluminium imposed over the weekend.
Market Dynamics: Investor sentiment remained cautious amid uncertainty over Trump’s trade policies. A stronger-than-expected US inflation print further bolstered the DXY, tempering hopes for near-term Fed easing. However, efforts by Trump and Putin to push for an end to the Russia-Ukraine war provided some relief, limiting USD gains.
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