美元脆弱，交易员在美国就业报告公布前评估关税影响。周五，美元难以重新站稳脚跟，避险日元徘徊在六个月高点附近，交易员们正在评估唐纳德·特朗普总统激进而深远的新关税措施的影响。

Dollar fragile as traders take stock of tariff fallout ahead of US jobs report.The U.S. dollar struggled to regain its footing with the safe-haven yen hovering near a six-month peak on Friday, as traders took stock of the fallout from President Donald Trump's aggressive and far-reaching new tariff measures.

周五，美元指数在上一交易日下跌近2%后仍低于102，因为人们越来越担心唐纳德·特朗普总统的激进关税和主要贸易伙伴的潜在报复可能会将全球经济推入衰退。特朗普宣布从4月5日开始对所有进口商品征收10%的基准关税，对大约60个国家征收更高的关税，包括中国54%，欧盟20%，日本24%，印度27%和越南46%。市场的反应是通胀上升、经济增长放缓和美联储进一步降息。交易员现在预计美联储今年将降息四次25个基点，第一次降息预计将在6月。与此同时，特朗普后来表示对贸易谈判持开放态度，这与他的助手早些时候的言论相矛盾。投资者现在正在等待周五的美国就业报告，该报告可能会进一步影响对美联储下一步行动的预期。

The US dollar index remained below 102 on Friday after tumbling nearly 2% in the previous session, as fears mounted that President Donald Trump’s aggressive tariffs and potential retaliation from key trading partners could push the global economy into recession. Trump announced a baseline 10% tariff on all imports starting April 5, with steeper levies on around 60 countries, including China at 54%, the European Union at 20%, Japan at 24%, India at 27%, and Vietnam at 46%. Markets reacted by pricing in higher inflation, slower growth, and more Federal Reserve rate cuts. Traders are now anticipating four 25-basis-point rate reductions from the Fed this year, with the first expected in June. Meanwhile, Trump later signaled openness to trade negotiations, contradicting earlier remarks from his aides. Investors now await Friday’s US jobs report, which could further shape expectations for the Fed’s next moves.

美联储的库克：风险倾向于高通胀和增长放缓。美联储理事Lisa Cook在隔夜的一次演讲中强调，她的基线预测认为，美国经济今年将“适度放缓”，失业率略有上升。此外，由于关税和其他政策变化，通胀进展将“在短期内停滞”。

Fed's Cook: Risks tilt toward high inflation and slower growth.Fed Governor Lisa Cook highlighted in a speech overnight that her baseline forecast sees the US economy will “slow moderately” this year, with a slight uptick in unemployment. Also, inflation progress will “stall in the near term”, because of tariffs and other policy changes.

美联储的杰斐逊：在全面的政策转变中花时间仔细思考很重要。美联储副主席菲利普·杰斐逊在一夜之间的演讲中重申，“没有必要急于”进一步调整政策。在贸易、移民、财政和监管政策发生全面变化的时期，当前的政策设置是恰当的。

Fed's Jefferson: Important to take time and think carefully amid sweeping policy shifts.Fed Vice Chair Philip Jefferson reiterated in a speech overnight that there is “no need to be in a hurry” to adjust policy further. Current policy settings are appropriately positioned amid a period of sweeping changes in trade, immigration, fiscal, and regulatory policies.