Investors Flock to Dollar as Trump Unveils US Tariff Plans

The dollar jumped the most in three weeks after President Donald Trump unveiled a wave of proposed tariffs, a sign investors are confident the US economy can largely withstand the impact of trade disputes.

The greenback strengthened 0.5% against a basket of peers on Monday, picking up steam after Trump announced levies on a handful of countries. The Bloomberg Dollar Spot Index rose the most since June 17 and currencies across the globe slumped, with Japan’s yen, South Korea’s won and Brazil’s real among those sinking more than 1%.