The dollar fell broadly on Monday, while European stocks jumped, after an official for the incoming U.S. administration said President-elect Donald Trump would stop short of imposing tariffs at his inauguration,

The dollar fell broadly Monday, after The Wall Street Journal reported President-elect Donald Trump won’t impose new tariffs on his first day in office. Currencies in Europe, Asia and the Ame

S&P 500, Dow, and Nasdaq aren’t trading but futures were up. Hang Seng, Nikkei, FTSE 100 and DAX were also rising.

The dollar took a dive on Monday after U.S. President-elect Donald Trump was quoted as saying he will not impose trade tariffs straight after his inauguration, which is set to take place later in the session.

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.

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.

The dollar drifted lower and stocks were cautiously positive on Monday as investors waited for an expected flurry of policy announcements in the first hours of Donald Trump's second presidency and eyed a rate hike in Japan at the end of the week.