The US dollar rose on Tuesday after Donald Trump pledged to levy additional tariffs on imports from Canada, Mexico and China, reigniting concerns about his trade policies.
The dollar index, which tracks a basket of currencies including sterling and the Japanese yen, rose 0.4 per cent on Tuesday morning.
The dollar index was down about 0.6 per cent on Monday, following Trump’s nomination of hedge fund manager Scott Bessent as Treasury secretary, an appointment investors took as a sign that the president-elect’s policies may be moderated.
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