Failing to continue the recovery, the US dollar in early trading yesterday experienced a deeper fall in value, closing the curtain on June 2025 with a dismal performance.
Investors in the market remain cautious as trading now approaches the opening of the third quarter of 2025.
The dollar index has shown its further fall to its lowest level since February 2022 at 96.25 points.
The United States (US) currency reached its lowest level in 4 years as market concerns are now focused on the increasing US government deficit and the uncertainty of trade negotiations with its allies.
Senate Republicans are trying to pass the spending and tax cut bill proposed by President Donald Trump despite realizing the risk of an additional $3 trillion increase in the national debt.
The Euro currency reached its highest level since September 2021 against the US dollar nearing the $1.1800 price level, maintaining its excellent performance since last week's increase.
The Canadian dollar has also shown a recovery after a sharp decline in value driven by Trump's announcement that he would end trade talks with Canada immediately.
Following this, Canada halted plans to impose a digital services tax targeting US technology firms.
Meanwhile, the White House reported that President Trump complained about the high interest rates set by Federal Reserve (Fed) Chairman Jerome Powell.
Trump described Powell's actions as "too slow" in setting interest rates, expecting a cut soon.
The market will watch the US JOLTS data and the ISM manufacturing survey to be published in the New York session tonight and will drive further movement of the US dollar.
