US Dollar strengthens after Germany's spending package approval

The US Dollar has gained value after Germany approved a significant spending package. The US Dollar Index (DXY) is currently at 103.60. This comes amid important discussions between US President Donald Trump and Russian President Vladimir Putin about Ukraine. Germany is set to boost its spending by 0.5 trillion euros, which has helped support the US Dollar. Earlier, the Dollar was struggling and approached a five-month low. The talks between Trump and Putin are raising concerns over potential changes in Ukraine's territorial situation and increasing defense spending in Europe and NATO. In other news, Israel has resumed attacks on Hamas in Gaza, breaking a ceasefire that started in January. Israel claims Hamas has not followed through on promises to release hostages, which could escalate tensions further in the region. US economic indicators released today show mixed results. Monthly Building Permits slightly exceeded expectations, while Housing Starts and Export Price Index also reported better figures than anticipated. Meanwhile, mixed trading is occurring in stock markets, with European indices rising while US stocks are declining. Market analysts expect no changes to interest rates in the upcoming Federal Reserve meeting, with a slim chance of a rate cut by May. The yield on US 10-year bonds is around 4.30%, up from a recent low. The DXY is facing pressure and may break below its recent range. If it does, it could drop to the 103.00 mark or lower. However, if economic events lead to an unexpected surge in the Dollar, it could rise towards 104.00 or higher.