It had seemed like nothing could stop the U.S. dollar from marching higher. Then a headline about President-elect Donald Trump’s tariff plans landed in traders’ newsfeeds, and suddenly all bets were off.

The U.S. dollar was close to a one-week low on Tuesday as markets await U.S. economic data while assessing whether President-elect Donald Trump's policies on tariffs will align with his rhetoric. Investors have been pricing in a scenario where the implementation of widespread tariffs could boost U.

U.S. stock futures were stalling early Tuesday as the market grapples with possible repercussions from any tariffs imposed by President-elect Donald Trump. Trump quashed speculation that he would pare back plans to introduce across-the-board tariffs on imports when he takes office later this month.