The dollar was rising after U.S. President-elect Donald Trump threatened to impose 100% tariffs against so-called BRICS countries if they create a new currency to rival the dollar. This alliance includes Brazil,

US President-elect Donald Trump warned the so-called BRICS nations that he would require commitments that they would not move to create a new currency as an alternative to using the US dollar and repeated threats to levy a 100% tariff.

Donald Trump is steamrollering ahead in his plan to reinstate the US as a superpower, threatening massive consequences against a perceived plot to eviscerate the US dollar.