Jan 20, 2025
Dollar drops, European stocks jump on Trump tariff delay
LONDON (Reuters) -The dollar fell broadly on Monday, while European stocks jumped, after an official for the incoming U.S. administration said President-elect Donald Trump would stop short of imposing tariffs at his inauguration, which takes place later in the day. European equity markets were firmly in positive territory in afternoon trading after the Wall Street Journal reported Trump would not impose import tariffs immediately after he's sworn in later on Monday. The dollar tumbled by as much as 1.3% at one point, falling particularly hard against the currencies of the United States' largest trading partners, such as the Canadian dollar, the Mexican peso, the euro and China's yuan.