The US dollar rose on Tuesday after falling to its lowest levels in more than two months at the beginning of the week, supported by increased appetite for safe-haven assets such as gold and US Treasuries, following US President Donald Trump's announcement that tariffs on Mexico and Canada will be implemented as planned.
The dollar's rally came to pressure the euro, which retreated from a one-month high of $1.0461. The future gains of the European currency are expected to depend on how quickly a coalition government is formed in Germany, after the victory of the conservatives in the last election.
US President Donald Trump reiterated that tariffs on imports from Canada and Mexico will take effect "on time" on March 4.
Source (Al-Arabiya.net Website, Edited)
