Dollar rebounds, focus on US tariff plans
Trump says thinking of tariffs on Canada and Mexico
Trump US not ready for universal tariffs yet

LONDON, Jan 21 Reuters The dollar partially rebounded on Tuesday after sliding the day before as President Donald Trump suggested the U.S. could impose tariffs on Canada and Mexico by Feb. 1, challenging suggestions his trade policy may be more gradual.

Trump told reporters his team was thinking of tariffs around 25, but offered no other specifics. He also floated the idea of universal tariffs, but said the U.S. was not ready for that yet.

The dollar had fallen sharply on Monday after Trump39;s first day included no specific plans on tariffs and officials signalled any new taxes would be imposed in a measured way, a major relief for tradeexposed currencies.

A following trade memo merely directed agencies to investigate and remedy persistent trade deficits.

Just because nothing specific was announced, there is clearly a threat that tariffs are coming and they could be quite chunky in size, said Dominic Bunning, head of G10 FX strategy at Nomura.

Some of the threat in terms of speed and scale of those tariffs coming in quickly has been diminished, but I think the market is still wary.

The market reaction was a kneejerk fall in the Canadian dollar and Mexican peso and a jump in the dollar. The U.S. currency climbed 0.8 to 1.4429 Canadian dollar and added 1.2 on the Mexican peso .

The dollar index , which measures the currency…