#MarketRebound
Asia FX treads water with tariff deadline in focus:
Broader Asian currencies kept to a tight range amid heightened uncertainty over the U.S. economy and President Donald Trump’s trade tariffs.
Trump’s three-month deadline for trade deals with major economies will expire in early-July, with no major agreements being achieved so far. A lack of trade deals could see the president proceed with his plan to impose steep tariffs on major U.S. trading partners.
But Trump may also further extend the deadline, given his tendency in the past to not make good on his tariff threats. Still, uncertainty over the deadline kept risk appetite subdued.
U.S. Commerce Secretary Howard Lutnick said that Washington had reached a trade deal with China, although he did not divulge any clear details on the purported agreement.
