The US Dollar weakened against G10 currencies this morning, continuing its worst performance in eight months amid geopolitical tensions. Former President Trump announced one hundred percent tariffs on Canada if they strike a trade deal with China, while Senate Democrats threaten to block spending unless Republicans defund Homeland Security. Safe-haven assets surged, with gold surpassing five thousand dollars an ounce and silver over one hundred dollars. Rick Rieder of BlackRock is the leading candidate for Federal Reserve Chair. The Japanese Yen strengthened significantly, likely due to Bank of Japan intervention, while the British Pound rose on UK political developments, as Manchester Mayor Andy Burnham positions to challenge Keir Starmer for Prime Minister
