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Trade War Keeps US Dollar’s Gains in Check, Gold Prices Soar

Trade War Keeps US Dollar’s Gains in Check, Gold Prices Soar

The US dollar (UUP) had started firming up in February and early March after a disappointing 2017. After the Fed’s decision, the dollar fell 0.7% to 83.5 as the committee suggested only two more hikes. We saw the currency’s largest one-day decline since the end of January. The Fed’ stance was slightly less hawkish than expected in the near term, which led to weakness in the US dollar.