The dollar edged higher against major peers on Monday, after a change in rhetoric from U.S. President Donald Trump lowered the temperature of simmering trade tensions with China, while political developments in France and Japan undermined the euro and the yen.

The U.S. dollar strengthened 0.78% to 0.805 against the Swiss franc after losing ground in the previous session after Trump announced 100% tariffs on China.

The broadside revived bad memories of Trump’s Liberation Day rollout of sweeping tariffs in April and sparked a selloff in stocks and cryptocurrencies on Friday.

“It’s kind of a repeat of what happened after Liberation Day,” said Eugene Epstein, head of trading and structured products at Moneycorp in New Jersey.

“Traditionally, the U.S. dollar strengthens when there’s any kin

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