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The dollar rose on Wednesday, after falling for three days in a row, as investors locked profits on dollar short bets but the outlook for the dollar remains uncertain due to the political uncertainty of the Trump administration and worries about a trade war.

Analysts said that US President Trump dismissed Secretary of State Tillerson on Tuesday. The previous week, US Economic Advisor Cohen resigned, highlighting that the government's uncertain environment will certainly scare away some of the top talent.

Tillerson was replaced by Mike Pompeo, director of the US Central Intelligence Agency, who is believed to be in line with Trump’s tough position in international political affairs.

The move "kindled fears that the camp of the presidential advisers, partial protectionism and isolationism, prevailed," said Omer Esiner, chief market analyst at the Commonwealth Foreign Exchange.

In addition to the successive changes in the cabinet staff, investors are increasingly worried about the Trump administration’s growing preference for protectionism.

Two sources involved in the Trump administration’s discussion said on Tuesday that the government is seeking to impose tariffs on China’s 60 billion U.S. imports, targeting the technology and telecommunications industries.

Economically, the US February retail sales data released on Wednesday failed to really help the US dollar. The decline in retail sales offset the stronger-than-expected increase in domestic producer prices last month.

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