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The U.S. Dollar strengthened to its highest level since late July after a long banking weekend marked by escalating U.S.–China tensions, including a Friday announcement of one hundred percent tariffs on Chinese imports that triggered an equity selloff. The negative market reaction overshadowed progress on a Gaza ceasefire, while China’s sanctions on parts of a South Korean shipping tycoon signaled further trade retaliation across the Pacific Rim. With the U.S. government shutdown limiting fresh data, markets look to policy remarks from Chair Jerome Powell and other officials at the National Association for Business Economics today, with inflation and labor readings expected later this week pending release.
