Currencies
Dollar Tumbles on Bets Trump Will Hold Off on Immediate Tariffs
- WSJ reports US president-elect won’t introduce new tariffs yet
- Mexican peso, Canadian dollar rise as Trump enters White House
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The dollar fell as Donald Trump was sworn in as US president, with traders betting that he’d hold off on implementing aggressive tariffs immediately after his Inauguration.
The Bloomberg Dollar Spot Index sank 1.1%, the most in 14 months, on Monday as most other US financial markets were closed for a holiday. The bulk of the move came early in the session after a Wall Street Journal reported Trump would stop short of imposing new tariffs on his first day in office.