Summary
- The U.S. dollar is expected to post its biggest weekly decline in seven months.
- The WSJ Dollar Index and the ICE Dollar Index fell about 0.8% and 1%, respectively, marking their steepest weekly drops since June last year.
- Markets said uncertainty over U.S. President Donald Trump’s policy moves is a key factor behind dollar weakness.
The U.S. dollar is poised to log its biggest weekly decline in seven months.
According to Walter Bloomberg, a breaking-news account, on the 23rd (local time), the dollar has remained on a weakening trend as volatility in U.S.-Europe relations increases. The WSJ Dollar Index fell about 0.8% this week, and the ICE Dollar Index slipped about 1%. Both marked their steepest weekly losses since June last year.
In markets, uncertainty over U.S. President Donald Trump’s policy moves is being cited as a key factor behind the dollar’s weakness. In particular, analysts say his recent decision to withdraw threats of imposing tariffs on European countries has reduced policy predictability, weighing on the greenback.
Meanwhile, some expect the dollar’s weakness could remain volatile depending on how trade and diplomatic issues between the U.S. and Europe develop.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
