活牛 (LiveCattle) 加自选

美元下跌。概述：美元普遍走低。关税威胁引发的涨势停滞，日本央行加息和欧洲PMI走强拖累美元兑所有G10货币和几乎所有新兴市场货币走低。

Dollar Slides.Overview: The US dollar is broadly lower. The tariff-threat inspired gains stalled and the BOJ rate hike and stronger PMI in Europe has dragged the greenback lower against all the G10 currencies and nearly all of the emerging market currencies.

特朗普支持立即降息，英镑兑美元汇率创下两周新高。英镑（GBP）兑美元（USD）周五跃升至1.2400附近。英镑/美元上涨，因为美元本周初末出现近两个月来的最高跌幅。

Pound Sterling refreshes two-week high against USD as Trump endorses immediate rate cuts.The Pound Sterling (GBP) jumps to near 1.2400 against the US Dollar (USD) on Friday. The GBP/USD gains as the US Dollar is onset to end the week with the highest losses in almost two months.

周五，10年期美国国债收益率降至4.63%左右，扭转了唐纳德·特朗普总统敦促美联储降低利率后两天的上涨趋势。尽管如此，人们普遍预计美联储将在下周的政策会议上保持利率不变，市场预计7月份将降息，并可能在今年晚些时候再次降息。与市场预期相反，特朗普自就职以来也没有实施激进的关税。然而，他最近威胁要对中国、欧盟、加拿大、墨西哥和其他金砖国家征收关税，同时也发出减税和促进人工智能基础设施投资的信号。这些措施与扩张性财政政策相一致，这可能会加剧通胀压力。

The yield on the 10-year US Treasury note dropped to around 4.63% on Friday, reversing a two-day rise after President Donald Trump urged the Federal Reserve to lower interest rates. Despite this, the Federal Reserve is widely expected to keep rates unchanged at next week’s policy meeting, with markets anticipating a rate cut in July and possibly another reduction later in the year. Trump has also refrained from implementing aggressive tariffs since his inauguration, contrary to market expectations. However, he recently threatened tariffs against China, the EU, Canada, Mexico, and other BRICS nations, while also signaling tax cuts and promoting investment in AI infrastructure. These measures align with an expansionary fiscal policy, which could heighten inflationary pressures.

如果欧洲的阴霾解除，美国的投资偏好可能会减弱：Mike Dolan。全球投资者对美国所有事情的极端偏见可能不需要以美国的一些重大冲击结束，但最终可能会随着围绕欧洲的普遍阴霾的适度解除而逆转。

US investment bias might ebb if European gloom lifts: Mike Dolan.The extreme global investor bias for all things American may not need to end with some major U.S. shock, but could eventually reverse with just a modest lifting of the pervasive gloom surrounding Europe.