The U.S. dollar was holding steady early Monday after a big drop last week as President Donald Trump enforced and then delayed tariffs on America’s biggest trading partners.
The dollar index, a measure of the greenback against a basket of peers, was up 0.1%. It’s still down 2.6% over the past five days and has dropped 4% in the past month.
The dollar’s weakness reflects worries about the impact of tariff uncertainty on economic growth. Other geopolitical events are also having an impact. Germany’s decision to dramatically boost spending has pushed the euro up 3% against the dollar over the past five days. The Canadian dollar was up slightly against its U.S. counterpart after Mark Carney, a former central banker, won the race to be leader of the Liberal Party, setting him up to be prime minister.
