In a surprising move, U.S. President Donald Trump announced a temporary 90-day suspension of tariffs on most countries, with the exception of China where tariffs were raised to 125%. This decision led to a significant rise in financial markets, with the Dow Jones index jumping nearly 3,000 points, reversing some previous losses.

In the currency market, the USD/CNH (U.S. Dollar/Chinese Yuan) pair experienced notable volatility. The Chinese Yuan fell to its lowest level since 2007, indicating the impact of high tariffs on the Chinese economy. This decline reflects fears of escalating trade tensions between the world's two largest economies.

For traders, it is advised to closely monitor political and trade developments, as these changes could significantly impact currency movements and financial markets.