The U.S. dollar rose for a second straight session on Wednesday as U.S. bond yields continued their recent advance, following a report that President-elect Donald Trump was contemplating the use of emergency measures to allow for a new tariff program.

"Welcome to the age of Trump 2.0," ING Economics said of the whiplash in the dollar following a Washington Post report and Donald Trump's response.

Wednesday rose by +0.50% after CNN reported that President-elect Trump is considering declaring a national emergency to push through his tariff plans, which could roil global trade and boost inflation pressures.

The dollar rose for a second day on Wednesday on higher U.S. bond yields, sending other major currencies to multi-month lows, with a report that Donald Trump was mulling emergency measures to allow for a new tariff program also lending support.