The U.S. dollar fell to a one-week low against its major peers on Wednesday as investors grew cautious about President-elect Donald Trump's tariff pledges while rebalancing their portfolios before the end of the month.

President Claudia Sheinbaum Pardo said tariffs could cause more inflation and result in job losses for the U.S. and Mexico.

The U.S. dollar eased almost across the board on Wednesday as investors waited for inflation data and remained cautious about President-elect Donald Trump's tariff pledges, amid portfolio rebalancing before month end.

President Claudia Sheinbaum of Mexico said she had an "excellent conversation" with U.S. President-elect Donald Trump on Wednesday, lowering tensions stoked this week by the American leader's threat to impose tariffs.