Stock Market News: Dow Set to Open Down as Market Digests Trump Tariffs Talk
The dollar remained weaker even after U.S. President-elect Donald Trump denied a Washington Post report that his proposed trade tariffs could be less stringent than previously planned.
The dollar’s failure to recover its losses likely indicates an adjustment in positioning following the currency’s three-month rally, ING’s Chris Turner said in a note. It could also reflect the view that there is “no smoke without fire and that the contents of that Washington Post report sounded sensible.”
The dollar could experience slightly more position rebalancing and consolidation in the near-term, he said.
The DXY dollar index falls 0.3% to 107.997 after hitting a one-week low of 107.776 Monday.