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The US Dollar has received due to the implementation of new tariffs, which raised the average effective tariff rate to 15.2 percent, the highest since World War Two. Despite slowing imports, the Dollar remains steady as markets have priced in these developments. Geopolitical risks, including potential US-Russia ceasefire talks, could shift investors toward risk-forward assets, impacting the Dollar. Key events to watch include Banxico’s interest rate decision today and next week’s US CPI report. The Pound is gaining strength despite a BoE rate cut, while the Mexican Peso remains resilient ahead of Banxico’s expected rate cut, supported by strong economic data and a risk-forward environment.
