Follow the latest news on the major headlines of the day.

Follow the latest news on the major headlines of the day.

Trump ally Steve Bannon calls the UAE 'scum' for seeking short term US dollar loan

Trump considers a currency swap with the UAE to assist its economy amid tensions from the Iran conflict.

Such a move would provide liquidity in dollars to the oil-rich UAE, but could be politically tenuous for the administration amid higher prices at home.

The White House on Tuesday said the UAE had not requested a currency swap line.