US dollar declines as traders react to proposed tariffs and mixed economic signals

The U.S. dollar is mostly lower today, following initial gains after President-elect Trump's proposed tariffs on Canada, Mexico, and China. U.S. yields are mixed, and major stock indices are also showing varied performance. In Europe, ECB officials expressed concerns about persistent inflation and slow economic growth. They suggested that interest rates may need to be adjusted based on upcoming economic data. In the currency markets, the euro and British pound initially fell but have since recovered slightly. The USD/JPY has seen fluctuations, with sellers currently in control. The USD/CHF has also moved lower, with key moving averages acting as resistance.