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Dollar Turns In Mixed Performance Against Major Counterparts
(RTTNews) - The U.S. dollar turned in a mixed performance against its major counterparts on Monday as traders weighed the likely impact of President Donald Trump's tariffs and trade policies, and the most recent economic data.
In a Fox News interview on Sunday, U.S. President Donald Trump declined to rule out the possibility of a recession following his tariff actions on Mexico, Canada and China.
"There is a period of transition, because what we're doing is very big. We're bringing wealth back to America," Trump told the "Sunday Morning Futures" program.
With a slew of crucial economic data due later in the week, the mood in the market is extremely cautious.
Reports on consumer and producer price inflation, as well as readings on consumer sentiment and inflation expectations, are due this week.
The dollar index, which dropped to 103.56 in the European session, climbed to 104.06 later on in the day, and was last seen at 103.90, up marginally from previous close.
Against the euro, the dollar was little changed at 1.0836. Against Pound Sterling, the dollar strengthened to 1.2878.
The dollar weakened against the Japanese currency, easing to 147.26 yen a unit. Against the Aussie, the dollar firmed to 0.6279.
The dollar gained marginally against Swiss franc, advancing to CHF 0.8810 a unit. Against the Loonie, the dollar strengthened to C$1.4440.
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