The U.S. dollar rose slightly on Monday after the United States announced new tariffs against Canada. The Canadian loonie weakened in response to the U.S. announcement. Canadian officials stated that Canada will match the U.S. tariffs in equal measure.
Iran's rial currency tumbled to a new record low as the United States set to impose more sanctions on the nation. In wider foreign exchange trading, hedge funds increased short positions on the dollar before Bessent's fiscal plan. Debt nerves also kept the dollar stuck near multi-month troughs.