💨 Abstract

The dollar dropped on Monday as news broke that Trump's new administration will not immediately impose trade tariffs, leading to a rally in foreign currencies. Trump mentioned a new agency to collect tariffs and repeated his intention to boost U.S. auto manufacturing, which market experts interpret as a tariff plan. The dollar index fell 1.3%, and against the Canadian dollar, it dropped 1.3%. The euro rose 1.2% to $1.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖