US dollar recovers losses after Trump announces tariffs on Canada and Mexico

The US dollar has weakened recently due to lower-than-expected inflation, leading to speculation about a potential rate cut. However, President Trump announced plans to impose 25% tariffs on Canada and Mexico, causing the dollar to recover most of its losses. In Switzerland, the central bank recently cut interest rates to 0.50% but indicated a slower pace of future cuts. The Swiss inflation data remained stable, aligning with market expectations. Technical analysis shows the USD/CHF pair is pulling back, with key trendlines being monitored. Upcoming economic data includes US Jobless Claims on Thursday and Flash PMIs on Friday.