The U.S. Dollar Index (DXY) remains resilient at 108.44, despite recent tariff announcements and expectations of gradual Federal Reserve easing, according to Morgan Stanley's latest Global Macro Commentary. The DXY's slight increase of 0.1% reflects the complex interplay of global economic factors, including President Trump's weekend announcement of tariffs on Canada, Mexico, and China, which were later delayed for Canada and Mexico. This development initially strengthened the USD, but the DXY reversed some gains as the market digested the news. Morgan Stanley notes that "two Fed members favor gradual easing," with Boston Fed President Collins stating "there's no urgency" for immediate policy adjustments. Meanwhile, the U.S. 10-year Treasury yield stands at 4.555%, down 1.6 basis points, as the yield curve flattens amid inflationary concerns and growth uncertainties.