Silver to $39.50: Up 9.4% Past 30 Days
The U.S. dollar fell sharply on Tuesday, particularly against the Japanese yen and Swiss franc, as concerns grew over President Trump’s proposed $3.3 trillion tax-cut and spending bill.
The dollar hit a 10-year low against the Swiss franc and approached a one-month low versus the yen. Meanwhile, the euro climbed to its highest level since late 2021.
The dollar’s weakness stems from fiscal worries about the massive debt increase, Trump’s criticism of the Federal Reserve, and uncertainty around upcoming trade deals.
Investors are now expecting the Fed to cut interest rates more aggressively this year, with Goldman Sachs forecasting three rate cuts instead of one.
