The US dollar has experienced mixed movements amid growing concerns over tariffs imposed by former President Donald Trump. While the Dollar Index extended gains by 0.3%, the greenback faced pressure as several Asian currencies strengthened. The Chinese yuan has played a pivotal role in this dynamic, with Beijing's firm policy stance nudging the yuan higher, which in turn has cooled the rally in other Asian foreign exchange markets. This has led to a weakening of various Asian currencies, including the Indian rupee, which is expected to slip at the open due to the yuan-led weakness. Market observers have described the current situation as an 'Asian crisis in reverse,' highlighting the unusual strength of Asian currencies against the US dollar. Overall, the dollar remains restrained as Asian counterparts, supported by China's currency moves, gain ground.