The U.S. dollar edged up on Monday after the United States introduced new tariffs against Canada. The Canadian loonie weakened in response to the U.S. tariff update. Canadian officials stated that Canada will counter the U.S. tariffs in equal measure.
Iran's rial currency tumbled to a new record low as the United States moved to announce more sanctions on the nation. In general currency markets, hedge funds accumulated short positions on the dollar before Bessent's fiscal plan. Debt fears also kept the dollar trading close to multi-month troughs.