The U.S. dollar continued its decline against major currencies on Monday, marking its fifth consecutive session of losses, as traders largely shrugged off President Donald Trump’s decision to delay the implementation of broad tariffs.
According to Bloomberg, the U.S. Dollar Index dropped by 0.2% in spot trading, after earlier hitting its lowest level since last October during Asian market hours.
The index has lost around 6% of its value since the start of the year, driven by escalating trade tensions between the U.S. and China, uncertainty surrounding U.S. policy, and fears of a slowdown in economic growth.
Dine Sykfo, a macroeconomics and FX markets analyst at Sberbank One Markets in Oslo, commented:
“For the dollar to sustainably recover, a swift and peaceful resolution to the trade war must be reached before long-term damage is done to the U.S. economy. The dollar is likely to continue weakening in the coming months as the impact of Trump’s tariffs becomes visible in key economic indicators such as consumer spending, inflation, and the labor market.”
According to Bloomberg, 80% of those surveyed in a recent poll expect the dollar’s decline to continue over the next month.
— (Petra)
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The U.S. dollar continued its decline against major currencies on Monday, marking its fifth consecutive session of losses, as traders largely shrugged off President Donald Trump’s decision to delay the implementation of broad tariffs.
According to Bloomberg, the U.S. Dollar Index dropped by 0.2% in spot trading, after earlier hitting its lowest level since last October during Asian market hours.
The index has lost around 6% of its value since the start of the year, driven by escalating trade tensions between the U.S. and China, uncertainty surrounding U.S. policy, and fears of a slowdown in economic growth.
Dine Sykfo, a macroeconomics and FX markets analyst at Sberbank One Markets in Oslo, commented:
“For the dollar to sustainably recover, a swift and peaceful resolution to the trade war must be reached before long-term damage is done to the U.S. economy. The dollar is likely to continue weakening in the coming months as the impact of Trump’s tariffs becomes visible in key economic indicators such as consumer spending, inflation, and the labor market.”
According to Bloomberg, 80% of those surveyed in a recent poll expect the dollar’s decline to continue over the next month.
— (Petra)
