US Dollar (USD) rebounded after tariff news resurfaced. Trump said he would soon impose tariffs on foreign pharmaceuticals, semiconductors and metals (objective was to return production of these essential goods to US).
The Dow Jones Industrial Average (DJIA) dipped into the 44,000 handle during Monday’s early overnight session, driven lower by a fresh bout of souring in investor risk appetite after a Chinese company globally released an open-source competitor to US-based AI models that have been largely proprietary up to this point.
US Dollar (USD) started the week on a slightly softer footing ahead of US holiday (Martin L. King Day) and Presidential inauguration today. Trump had promised to sign a host of executive orders on his 1st day as President. DXY was last at 108.48 levels.