On March 10, 2025, the forex market experienced notable fluctuations influenced by global economic and political factors. The U.S. dollar began the week on a softer note, weighed down by concerns over President trade tariffs and mixed labor market data. This shift benefited safe-haven currencies; the Japanese yen rose by 0.5% to 147.27 per dollar, and the Swiss franc hit a three-month high at $0.87665. The euro also gained, supported by Germany’s significant fiscal reforms, climbing 0.3% to $1.086725. 
In Asia, the Indian rupee opened lower despite the weaker dollar, hindered by global trade tensions and importer hedging activities. The one-month non-deliverable forward indicated an opening around 87.15 per dollar, down from the previous close of 86.8725. 
Trade tensions, particularly between the U.S. and major partners like Canada, Mexico, and China, continued to influence market sentiment. President tariff policies raised concerns about potential global growth impacts, contributing to the demand for safe-haven assets. 
Looking ahead, investors are awaiting U.S. consumer inflation data, set for release on Wednesday, which could provide further insights into the Federal Reserve’s monetary policy direction.