The dollar slid broadly on Monday after U.S. President Donald Trump struck a protectionist tone in his inauguration speech, prompting developed and emerging market currencies to gain.The drops and gains were due to the Trump administration’s intention, on its first day in office, to withdraw from the Trans-Pacific Partnership, TPP. In his inaugural address, Mr. Trump pledged to end what he called an “American carnage” of rusted factories, and vowed to put “America first”.He laid out two simple rules – buy American and hire American.Mr. Trump also said on Sunday that he planned talks with leaders of Canada and Mexico to begin renegotiating the North American Free Trade Agreement (NAFTA).Members of the TPP are U.S., Japan, Malaysia, Vietnam, Singapore, Brunei, Australia, New Zealand, Canada, Mexico, Chile and Peru.
