Something different just happened to the U.S. dollar, which recently completed its worst first half of any calendar year since at least the 1970s: The dollar strengthened this week, despite President Donald Trump’s ongoing tariff talk.

Investors have so far behaved as if they’re counting on the U.S. president to back down, having seen previous U-turns from his administration.

President Donald Trump's antitrust enforcers recently cleared a string of multibillion-dollar deals in a week, demonstrating a willingness to settle with companies that marks a shift from the Biden administration.

President Donald Trump has been sending letters to countries outlining higher tariffs they’ll face if they don’t make trade deals with the U.S. by Aug. 1.