The U.S. dollar edged up on Monday after the United States introduced new tariffs against Canada. The Canadian loonie dropped in response to the U.S. trade news. Canadian officials stated that Canada will counter the U.S. tariffs with equal force.
Iran's rial currency hit a new historic low as the United States set to roll out more sanctions on the nation. In general currency markets, hedge funds increased short positions on the dollar before Bessent's fiscal plan. Debt concerns also kept the dollar stuck near multi-month troughs.