The US dollar fell on Monday after reports that president-elect Donald Trump’s administration is considering watering down a campaign pledge to apply sweeping tariffs on imported goods.
The dollar index, which tracks the currency against a basket of six peers, initially fell more than 1 per cent after The Washington Post reported that potential tariffs might be confined to critical imports.
In November, Trump had threatened blanket 10 or 20 per cent duties on all trading partners.
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