The US dollar index found renewed footing above the 97.5 mark on Monday as markets grappled with an escalating tariff offensive that President Trump confirmed would begin on August?1st. In a pair of Truth Social posts, he announced 25% duties on all Japanese and South Korean imports, adding to the broader reciprocal–tariff campaign that spares only those nations which have struck preliminary deals, and warned of an extra 10% levy on any country aligning with “anti-American” BRICS policies. Treasury Secretary Scott Bessent signaled that letters outlining tariff rates would continue to arrive in the coming days, heightening the sense of urgency for trading partners scrambling to negotiate exemptions. Meanwhile, upbeat US labor data, 147,000 payrolls in June versus 110,000 expected and a fall in unemployment, tempered fears of an imminent Fed rate cut.