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The
index, which measures the greenback against six major rivals,
fell half a percent to 100.28, while it dropped more than 1
percent to 113.440 yen <JPY=> and 0.35 percent to $1.0755 per
euro. <EUR=>
"Every decision on trade, on taxes, on immigration, on foreign
affairs, will be made to benefit American workers and families,"
Trump said in Washington on Friday. "...Protection will lead to
great prosperity and strength."
The speech was then followed over the weekend by coordinated
protests in U.S. cities, testy exchanges between members of
Trump's top staff and U.S. media and a signal from the president
that he would begin renegotiating the North American Free Trade
Agreement.
His administration also said it intends to withdraw from the
Trans-Pacific Partnership (TPP) trade pact. The TPP, which the
United States signed but has not ratified, had been the main
economic pillar of the Obama administration's "pivot" to the
Asia-Pacific region in the face of a fast-rising China.
Sterling was the other big gainer among developed-market
currencies, hitting a five-week high as investors bet Britain's
Supreme Court would on Tuesday rule the government needs
parliamentary approval to trigger formal Brexit talks.
Sterling climbed as much as 0.8 percent to $1.2472 <GBP=D4>, its
strongest level since Dec. 19.
"People had expected some kind of repeat of his (Trump's)
victory speech in November, but it was a bit confrontational and
has sparked some concerns in the markets that he is going to
play hard ball," said Rabobank's U.S. focused strategist Philip
Marey.
"It was quite straight forward: buy American, hire American...
so it's clear what route he is taking."
The dollar index <.DXY> rose around 4.2 percent between Trump's
election in November and the end of last year, but it has given
back over 2.5 percent of that gain since then, having fallen for
nine of the 16 trading sessions this year.
Against the yen this year's fall has been 3 percent.
(Reporting by Marc Jones; editing by John Stonestreet)
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