The U.S. dollar edged higher against major currencies on Monday following a softening in President Donald Trump’s trade rhetoric toward China.

Trump had announced a surprise 100% tariff on Chinese imports on Friday, which triggered a selloff in stocks and cryptocurrencies and earlier weakened the dollar.

The big picture: The dollar strengthened 0.78% to 0.805 against the Swiss franc after an initial drop caused by the tariff shock. • The dollar index, measuring the U.S. currency against six major rivals, rose 0.27% to 99.32, reversing the previous session’s decline.

What they’re saying: Trump softened his stance on Sunday, posting on Truth Social: “Don’t worry about China, it will all be fine!” and calling President Xi “highly respected” despite a “bad moment.” He emphasized, “The U.S

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