💨 Abstract

The US dollar surged to a two-year high against major currencies following a strong US jobs report, dampening expectations for Federal Reserve rate cuts this year. The euro and pound hit multi-year lows, while the Australian and New Zealand dollars also weakened. In contrast, China's yuan rose after Beijing took steps to support the currency. Trump's return to the White House and potential inflationary impact of his policies could further impact currency markets.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖