The U.S. dollar rose against major currencies including the yen and euro as President Donald Trump rekindled trade tensions with new tariffs on Canada and other trading partners. Trump issued a letter late on Thursday that said a 35% tariff rate on all imports from Canada would apply from August 1.

Chinese traders are pulling back from the dollar, helping ease a shortage that has rattled the banking system and setting the yuan up for further gains.

Americans traveling overseas face higher costs as the U.S. dollar weakens against foreign currencies, squeezing budgets for hotels, food and transportation abroad.

The Indian rupee weakened on Thursday on the back of dollar bids from foreign banks and a broadly stronger greenback, after U.S. President Donald Trump continued to up the ante on tariffs by announcing a 35% levy on Canadian imports starting August 1.

A troubling shift in the dollar’s trading relationship with U.S. stocks has eased somewhat over the past few weeks.

The Department of Health and Human Services has asked some laid-off staff if they could return to work temporarily, as the department grapples with a backlog of grants that has swelled to more than a billion dollars in the wake of hurdles set up by DOGE.

The Canadian dollar edged higher against its U.S. counterpart on Thursday but the move was modest as the greenback notched broad-based gains and after new U.S. trade tariffs cast doubt about prospects of a trade deal this month between Canada and the United States.

A man who stabbed the manager of an Adams County Family Dollar Store to death over an argument at the shop has been convicted of first-degree murder nearly a decade after the crime, according to a