Dollar down as Trump takes over

The dollar retreated against most of its peers Monday, with warnings of wild volatility ahead as Donald Trump began his presidency promising to put America first and hitting out at global trade deals.

While trading floors are ravaged by uncertainty over the tycoon's plans, shares in most Asian markets rose following a positive lead from Wall Street, though Japan's Nikkei tanked as the greenback slipped against the yen.

Trump's inauguration speech Friday continued his campaign rhetoric, saying "every decision on trade, on taxes, on immigration, on foreign affairs will be made to benefit American workers and American families".

On Sunday he vowed to start renegotiating the North American Free-Trade Agreement during upcoming talks with Mexico and Canada.

"Markets are now waiting for more evidence that Donald Trump will deliver on fiscal stimulus and deregulation," Shane Oliver, Sydney-based global investment strategist at AMP Capital Investors, told Bloomberg News.