UBS Global Wealth Management analysts said in a report that in the worst case scenario, the US may re-impose the currently suspended equivalent tariffs, and the US dollar may weaken. The 90-day tariff suspension will end on July 9. Analysts said the worst outcome would be for the US to levy higher tariffs previously announced on all trading partners without reaching a trade agreement. The dollar is likely to be sold off against the euro, the Swiss franc, the yen, and the British pound. They added that less liquid currencies, such as emerging market currencies, will also fall.

UBS Global Wealth Management analysts said in a report that in the worst case scenario, the US may re-impose the currently suspended equivalent tariffs, and the US dollar may weaken. The 90-day tariff suspension will end on July 9. Analysts said the worst outcome would be for the US to levy higher tariffs previously announced on all trading partners without reaching a trade agreement. The dollar is likely to be sold off against the euro, the Swiss franc, the yen, and the British pound. They added that less liquid currencies, such as emerging market currencies, will also fall.