The dollar strengthened against every major currency after comments on tariffs from US President Donald Trump and Scott Bessent bolstered demand for the reserve currency.

The dollar was modestly lower on Thursday in a choppy session, after comments from U.S. President Donald Trump called for lower interest rates while providing no clarity on tariffs, and investors awaited a round of policy announcements from global central banks.

The global economy is on edge as U.S. President Donald Trump's proposed tariffs ripple across financial markets, sparking volatility and shifts in currency values. The U.S. dollar – which had recently reached a two-year high earlier this month – has shown signs of weakness amid investor uncertainty and fallen to a two-week low,

The U.S. dollar weakened on President Donald Trump’s Inauguration Day, and remained under pressure Tuesday after it became clear immediate tariffs weren’t in the cards, according to BofA Global Research.

Trump was quoted saying his team was thinking of tariffs around 25% which could be announced on Feb. 1 but offered no other specifics.

The U.S. dollar rose on Tuesday, as concerns regarding global economies and potential trade wars continued to worry investors after U.S. President Donald Trump ramped up his tariff rhetoric.  The greenback was up 0.

President Donald Trump announced the introduction of tariffs on semiconductors from abroad, primarily from Taiwan, to encourage companies to move production to the USA. Trump also stated that the success of the Chinese AI model,