Developments in Trump's global tariff war, which have swung currencies wildly in recent months, have slowed considerably this week, even as the clock ticks down to the end of 90-day tariff respites for U.S. trade partners in the absence of new trade deals.

Gold rose as the dollar tumbled after Moody’s Ratings stripped the US of its last top credit rating due to ballooning debt and deficits.Most Read from BloombergAmerica, ‘Nation of Porches’Maryland’s Credit Rating Gets Downgraded as Governor Blames Trump NJ Transit Train Engineers Strike,

The dollar slipped again Tuesday, weighed down by the Federal Reserve’s caution over the economy while traders considered news of upcoming U.S.-Japan talks.

Gold prices rose on Wednesday to their highest levels in a week as the dollar weakened and investors sought safety amid U.S. fiscal uncertainty, with Congress debating a sweeping tax bill.

Investors faced yet another bumpy start to the trading week with US assets coming under fresh pressure, although it’s mounting concern over American debt rather than tariffs generating the volatility this time.

The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is slipping lower for a second consecutive day on Tuesday as markets continue to digest the recent downgrade of the rating in US debt, which led to a rollercoaster in US bond markets.

The U.S. Dollar (DXY) saw a sharp fall on Monday after ratings agency Moody’s decided to strip the U.S. of its last remaining top-tier credit score, raising fears of America’s rising debt burden.  The greenback was last down 0.

DXY rebounds but stays vulnerable as Moody’s downgrade, debt concerns, and rising gold prices challenge the dollar’s reserve currency strength.