What caused the world USD exchange rate to reverse and decrease on May 30?

In the trading session on May 30, the domestic USD exchange rate increased slightly, listed at 24,962 VND/USD at the opening, up 15 VND. The USD Index (DXY) decreased 0.54%, down to 99.33 points.

However, in the international market, the USD has turned to decrease in value, as shown by the USD Index (DXY) decreasing by 0.54% to 99.33 points.

The reversal follows a notable ruling from the U.S. Court of International Trade, which struck down most of the tariffs proposed by former President Donald Trump, saying his administration had exceeded its authority by imposing broad tariffs on imports from countries with trade surpluses with the United States.

Economists have long expressed concerns that tariffs could slow the economy and spark inflation, and say inconsistent policy implementation could reduce the appeal of U.S. assets to foreign investors.

The US Federal Reserve (Fed) has kept interest rates steady amid concerns about higher inflation and is waiting to see how trade policies will impact the US economy. Former President Trump is said to have called the Fed Chairman's decision not to cut interest rates a "mistake".

Pessimism about the US economic outlook eased earlier this week after President Donald Trump postponed plans to impose 50% tariffs on imports from the European Union.

In specific exchange rate developments, the EUR appreciated by 0.73% against the USD, reaching 1.1374 USD. In contrast, the USD decreased against the Japanese yen (down 0.57% to 143.99) and against the Swiss franc (down 0.59% to 0.822).

The dollar's weakness was also fueled by a surprise surge in U.S. jobless claims, raising concerns about rising layoffs and the possibility of further increases in the unemployment rate in May.

The US economic backdrop also includes Congress considering a tax cut and spending bill that is expected to significantly increase the public debt, and a decline in demand for 20-year Treasury bonds, reflecting concerns about the government's financial outlook.

Source: https://baoquangnam.vn/dieu-gi-khien-ty-gia-usd-the-gioi-dao-chieu-giam-vao-ngay-30-5-3155769.html