Dollar Soars as Latest Vow of US Tariffs Hits Loonie and Peso

Currency traders bought the dollar after Donald Trump confirmed the launch of 25% tariffs against Canada and Mexico next week and raised the prospect of fresh levies on China.

The tested strategy sent a Bloomberg gauge of the greenback up the most in three weeks. The currencies tied to Trump’s targets — Mexico’s peso, Canada’s loonie and China’s offshore yuan — all slid after the US president’s remarks.