The U.S. dollar fell sharply on Thursday, with the ICE U.S. Dollar Index down in its worst single-day drop since 2022, according to CNBC. The index briefly dipped below the 101 mark, putting it on track for its lowest close since September. The dollar has lost more than 7% of its value since President Donald Trump took office and over 2% since he revealed his full trade policy last week. Wall Street had expected Trump’s tariffs to strengthen the greenback, but foreign investors appear to be retreating from U.S. assets, pushing the dollar lower. Analysts say fears of a recession are compounding the dollar’s decline.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02U.S. dollar fell sharply on Thursday with the ICE U.S. dollar index down on its worst single-day
00:07drop since 2022, according to CNBC. The index briefly dipped below the 101 mark, putting
00:12on track for its lowest close since September. The dollar has lost more than 7% of its value
00:17since President Donald Trump took office, and over 2% since he revealed his full trade policy
00:22last week. Wall Street expected Trump's tariffs to strengthen the greenback,
00:25and foreign investors appear to be retreating from U.S. assets, pushing the dollar lower.
00:30Analysts say fears of a recession are compounding the dollar's decline.
00:34For all things money, visit Benzinga.com slash GSTV.