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Dollar's surprise rebound stymies anti-Trump trades - REUTERS

JULY 31, 2025

Summary

  • Retreat from US assets slows on tariff deals, GDP
  • Big "dollar short" peaked two weeks ago - BofA
  • 'Rest of the world trade' follows bets against the dollar
  • Further U.S. rebound would weigh on Europe, Asia, EM

LONDON, July 31 (Reuters) - Investors' conviction that U.S. President Donald Trump's tariffs and debt spree would spark long-term pain for the dollar and U.S. stocks is crumbling, signaling pain ahead for assets across Europe and emerging markets that were boosted by this view.
The dollar, which suffered its worst first-half performance since 1973 this year, is now barreling towards its first monthly gain of 2025 after the Federal Reserve resisted a rate cut, U.S. growth data was unexpectedly robust and trade war fears eased.

MARKET NEWS

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