The dollar was broadly lower against major currencies today with market sentiment weakened by the continuing trade kerfuffle between the U.S. and China.

Traders perused comments from Federal Reserve Chair Jerome Powell for cues on upcoming rate cuts amid a U.S. government shutdown, which has hampered the timely release of key data.

The dollar weakened 0.36% to 151.29 against the Japanese yen and was down 0.27% to 0.799 against the Swiss franc , on track for the second straight session of losses against both safe-haven currencies.

Top U.S. officials, including Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, blasted China’s major expansion of rare earths export controls as a threat to global supply chains.

Greer described China’s export controls as a complete re

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