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The U.S. Dollar is trading in tight ranges after a strong rally yesterday, driven by impressive economic growth data. New tariffs on branded pharmaceuticals (100 percent) and heavy-duty vehicles (25 percent) could impact equities, which fell yesterday. With GDP showing its fastest growth since Q3 2023 and inflation steady at 2.7 percent, the Fed may lean toward cautious monetary policy. Globally, the Mexican Peso is strengthening after Banxico’s “hawkish” 25 basis point rate cut, while the Euro is rising on higher inflation expectations and potential ECB rate hesitancy, supported by diverging central bank policies.
