President Trump's announcement at the beginning of March that tariffs on steel and aluminium imports will be introduced has confirmed MUFG's assertion that White House politics will be pivotal for the dollar in 2018. The risk of retaliation from affected countries opens the dollar up to turbulence – watch Derek Halpenny explain the challenges in this month's video.

You can view more insights from Global Markets Research on their dedicated website. Access requires log in details.