Trump, who takes office later in the day, has previously pledged tariffs of 10% on global imports, 60% on Chinese goods and a 25% import surcharge on Canadian and Mexican products, duties that may upend trade flows, raise costs and draw retaliation.

Futures on the Dow Jones Industrial Average soared Monday in electronic trade after a report that President-elect Donald Trump won’t impose new tariffs on his first day of office.

The U.S. dollar dropped and bitcoin hit an all-time high on Monday before Donald Trump’s inauguration as U.S. president later in the session, with investors focusing on policy announcements that could immediately affect the greenback.

The dollar inched lower against most major currencies as traders trimmed widely-favored bullish positions on the greenback just hours ahead of Donald Trump’s second inauguration as the US President.