The dollar rose broadly against other major currencies on Tuesday after U.S. President-elect Donald Trump vowed to sign an executive order imposing 25% tariffs on all products coming into the United States from Mexico and Canada. The dollar rose more than 2% against the Mexican peso and 1% against the Canadian dollar.
The greenback has fallen over the past few days as the Treasury market welcomed the president-elect of Scott Peacecent, a hedge fund manager, to take over the treasury portfolio. The dollar index, which measures the greenback's performance against six major currencies, last hit 107.37. The euro fell 0.6% to $1.043175, while sterling fell 0.4% to $1.2516.
