Dollar rallies, stocks retreat after Trump vows tariffs
Stocks declined, giving back some of the robust gains of the previous session, when they were buoyed by the nomination of fund manager Scott Bessent as Treasury Secretary, considered by investors as a voice for Wall Street in Washington.
Bessent's appointment had also led to a sharp fall in U.S. yields as investors scooped up Treasury bonds, sending the dollar sliding in the previous session.
The dollar jumped 2% to 20.679 Mexican pesos as of 0040 GMT on Tuesday, and climbed 1% to C$1.4130. It strengthened 0.3% to 7.2681 yuan in offshore trading.
The U.S. currency added 0.14% to 154.43 yen, while the euro slipped 0.5% to $1.0444.
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