0909 GMT - Continued U.S. trade progress is needed for the dollar to sustain its recovery after the U.S. and China agreed to lower tariffs considerably for 90 days, Ballinger Group forex analyst Kyle Chapman says in a note. The U.S.-China progress is "substantially better news than most were expecting" but it's not the end of the story by any means. There is an expiry date attached to lower tariffs and disagreements may grow down the line, Chapman says. The market needs convincing that trade optimism will persist for the longer-term to allow the dollar to recover to levels before April 2 reciprocal tariffs were announced, he says. The DXY dollar index rises to a one-month high of 101.792. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

May 12, 2025 05:09 ET (09:09 GMT)

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