The dollar index rose above 108.3 on Monday, extending its gains for a third consecutive session as new tariff threats from US President Donald Trump fueled concerns about inflation, potentially limiting the scope for rate cuts. Late on Sunday, Trump announced a blanket 25% tariff on all steel and aluminum imports, set to take effect later today, along with additional tariffs to be revealed on Tuesday or Wednesday. This announcement coincided with China's retaliatory tariffs on select US exports, set to take effect today. Meanwhile, German Chancellor Olaf Scholz stated that the EU was prepared to respond "within an hour" if the US imposed tariffs on European goods. On the economic front, investors are bracing for the latest US consumer inflation data on Wednesday, followed by weekly jobless claims and the producer price index report on Thursday.(Cay) Newsmaker23
Source: Trading economi
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