Forex
Dollar Surges as US Announces Expanded Iran Sanctions and Tariffs on Canada
The US dollar rose after President Donald Trump's administration announced an expansion of sanctions on Iran and separate tariffs on goods from Canada.
Treasury Secretary Scott Bessent said the sanctions will 'sever every economic lifeline' that sustains Iran, in hopes of pressuring Tehran into ending its attacks on ships in the Gulf.
The dollar index rose 0.17% to 98.99, with the euro down 0.14% at $1.1663.
The Canadian dollar weakened 0.61%, its biggest drop since June 17, versus the greenback to C$1.385 per dollar, after Washington imposed 50% tariffs on Canadian goods.