The U.S. dollar surged on news of new tariffs announced by former President Donald Trump, rattling global currency markets. The peso and loonie were among the hardest-hit currencies, as traders reacted to increased trade tensions and their potential economic fallout. The greenback gained strength across the board, fueled by its safe-haven appeal during heightened uncertainty.
The peso dropped sharply, reflecting vulnerabilities in emerging markets to geopolitical shocks. Meanwhile, the loonie slid as concerns over U.S.-Canada trade ties grew following the tariff announcement. Analysts predict further volatility as markets adjust to the ramifications of Trump’s decision, with risk-averse investors favoring the dollar over other currencies.
