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US Dollar Rises and Loonie Drops on Tariffs

The US dollar edged higher on Monday while the Canadian dollar suffered its biggest drop since June after Washington announced heavy tariffs. Meanwhile, markets awaited further details on upcoming US sanctions against Iran and upcoming economic data.

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U.S. dollar banknotes are seen in this illustration taken March 24, 2026. REUTERS/Dado Ruvic/Illustration

The United States dollar rose 0.11% to 98.94 on Monday morning following plans for long-dated bond buybacks. The move comes as markets await new sanctions on Iran.
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