In response to the Washington Post story that said US President-elect Donald Trump's aides are considering tariffs that would be applied to every country but only cover critical imports, Trump said it was wrong.

"The story in the Washington Post, quoting so-called anonymous sources, which don't exist, incorrectly states that my tariff policy will be pared back. That is wrong. The Washington Post knows it's wrong. It's just another example of Fake News," Trump posted on Truth Social.

Market reaction

The US Dollar Index recovered from session lows following this development and was last seen losing 0.6% on the day at 108.25.