The U.S. dollar rose slightly on Monday after the United States introduced new tariffs aimed at Canada. The Canadian loonie weakened in response to the U.S. trade news. Canadian officials warned that Canada will match the U.S. tariffs in equal measure.
Iran's rial currency tumbled to a new historic low as the United States moved to announce more sanctions on the nation. In wider foreign exchange trading, hedge funds accumulated short positions on the dollar before Bessent's fiscal plan. Debt fears also kept the dollar trading close to multi-month lows.