The dollar strengthened and Asian stocks pared earlier gains following comments from US President Donald Trump about imposing tariffs on Canada and Mexico by February 1. Trump suggested enacting tariffs of up to 25%, boosting the US currency against most Group-of-10 peers, except the yen, while Treasuries gained. Chinese markets experienced volatility as Trump refrained from announcing new tariffs on China on his first day in office. US stock futures remained relatively stable despite the tariff discussions. Analysts, including Saxo Markets, noted the short-lived nature of tariff-related market relief. Continue here.
