US-UK Announce Groundbreaking Trade Agreement, Boosting Dollar Index

Published: May 9, 2025 11:08

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[US-UK Trade Agreement Reached] On Thursday, Trump announced a "groundbreaking" trade agreement with the UK: maintaining a 10% benchmark tariff on the UK, expanding market access for both sides, abolishing tariffs on UK steel and aluminum, implementing a zero-tariff policy for US agricultural products, and imposing a tiered tariff on UK car imports. The US dollar index touched its highest reading since April 10, ultimately closing up 0.76% at 99.86. The benchmark 10-year US Treasury yield closed at 4.2740%, while the more monetary policy-sensitive 2-year US Treasury yield closed at 3.7870%.

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