The US dollar was on course to post its steepest sell-off since November 2023 as President Donald Trump vowed to enact sweeping tariffs, but stopped short of announcing specific trade curbs.
The dollar index, a measure of the currency against six peers, fell as much as 1.3 per cent by late afternoon in New York, FactSet data shows.
Monday’s slide came as Trump in his inauguration address said “we will tariff and tax foreign countries to enrich our citizens” — but refrained from announcing further details of his plans.
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