The US dollar index fell during the first six months of the year, recording its worst annual performance since 1973, when Richard Nixon was President of the United States.
The US dollar index decreased by 10.8% since the beginning of the year, compared to a decrease of 14.8% in the first half of 1973.
The ambiguity surrounding President Donald Trump‘s commercial and customs policies, as well as his repeated calls to reduce interest rates by the Federal Reserve, has heavy on the American currency.
“It seems that the US dollar is heading towards more losses, after it slipped to its lowest level in several years, in light of the market pricing for a lenient direction from the federal, weak economic data, and the high degree of uncertainty in policies,” said Brenden Waghene, the New York foreign currency strategy.
