- The dollar is down over 9% year to date compared with a standard basket of currencies, with the euro stronger relative to U.S. currency than at any point since November 2021. The safe-haven status of gold is also in focus as the precious metal’s price hits record highs above the $3,420 mark.
President Donald Trump’s tariffs are ostensibly aimed at forcing the world to “buy American,” but investors are doing the opposite with U.S. assets. The selloff in equities and Treasury bonds has even hit the almighty dollar, putting its safe-haven status in question, and Trump’s badgering of Federal Reserve Chair Jerome Powell doesn’t appear to be helping.
