特朗普的贸易炸弹：对全球秩序的附带损害（简）

US-China relationship under extreme duress

Global Forex Monitor - April 2025

Following the announcement of reciprocal tariffs by the White House, the US dollar corrected against most currencies, notably the other G10 currencies, on concerns of a pronounced slowdown of the US economy and heightened expectations of rate cuts by the Fed, notwithstanding the prospect of higher domestic inflation. In this stagflationary environment, the market is now pricing in more than four 25bps cuts by the end of the year. As a result, the DXY dollar index made a brief foray below 102.Over the short to medium term, investor wariness towards US assets is set to persist, in particular in ...