Dollar sinks to 4-year low, Trump brushes off decline
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The Dollar Index, which tracks the U.S. currency against six leading trading partners (but not China), fell the most in a single day since last April 10, when it tumbled almost 2% amid mounting trade disputes and U.S. threats to impose a 145% tariff on China. That same day, the S&P 500 slid 3.5% and the Nasdaq Composite sank 4.3%.
The chart shows the U.S. dollar’s value from January 20 to January 25, with the index falling from around 99.10 to 97.14.
The Dollar grappled with a "crisis of confidence" as it struggled near four-year lows on Wednesday after President Donald Trump brushed off its recent weakness.
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U.S. dollar has fallen 10.7% year-over-year, declining against major currencies amid mounting debt, rate divergence, and geopolitical risks.
A gauge of the dollar slid to its weakest level in nearly four years as a resurgent yen adds to headwinds for the US currency.
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The U.S. dollar fell to its lowest level in four years on Tuesday despite President Donald Trump claiming it was “doing great” in a speech in Iowa.