Yesterday's opening of the early week featured a mixed trading pattern with the US dollar's performance fluctuating for several sessions.
Market uncertainty is still shrouded in the impact of the tariffs announced by President Donald Trump last week, sparking concerns about a global economic downturn.
Global stock markets experienced a bad fall at the beginning of the week, showing that the impact of this tariff war could be a major financial crisis and have long-term effects on the world.
Several countries have taken the approach of negotiating with the United States (US), but some do not want to give in to Trump's actions, especially China.
Following the increased tariffs, China announced an additional 34% tariff on the US as a counterattack.
Trump warned that if China did so, an additional 50% tariff would be imposed on Chinese imports.
Meanwhile, the European Commission proposed a 25% tariff on US goods in response to Trump's tariffs on steel and aluminum.
The White House has denied reports that President Trump is considering a 90-day tariff deferral for all countries except China.
The US dollar has shown some recovery since the close of trading last week, after sinking to a 6-month low.
Markets are raising expectations for more aggressive interest rate cuts by the Federal Reserve (Fed) amid concerns that US economic growth will be affected.
However, Fed Chairman Jerome Powell said on Friday in a cautious tone that it was too early for the central bank to make a definitive decision and would continue to monitor the impact of the tariff war.
