The U.S. dollar slumped to its lowest level since 2022 on Thursday, putting the greenback on track to have its worst start to a year in decades.
The U.S. dollar index (DXY) slid as low as 98.6 Thursday morning, its lowest reading since March 2022, and more than 9% below where it started the year. The index has only shed more than 9% of its value during the first half of the year two other times since 1985, and the last was in 2002.
The dollar has slumped this year as investors have questioned both the U.S. economy’s outlook and America’s role within the global financial system. President Donald Trump’s unpredictable tariff policies and apparent desire to abdicate U.S. leadership of the post-war global economic order has sparked what Wall Street has dubbed the “Sell America” trade.
Colin Laidley | Yahoo Finance