The U.S. dollar just fell to its lowest level in 4 years. Here's why.
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Unlike the buoyant U.S. stock market, the dollar is sinking fast. Edited by Alain Sherter In:
Unlike the buoyant U.S. stock market, the dollar is sinking fast.
The value of the greenback just hit a four-year low, according to the ICE U.S. Dollar Index, the Intercontinental Exchange's measure of the currency against a basket of six other major currencies. While much of the decline has occurred over the past year, the dollar has slid more than 3% since mid-January, according to the index.
The dollar's slide impacts everything from financial markets to people's overseas vacation plans. It also makes it more expensive for American companies to import furniture, clothing and many other goods manufactured outside the U.S., adding to their costs amid the Trump administration's wide-ranging tariffs.
The dollar's decline also coincides with a host of destabilizing forces, ranging from the latest tariff threats by President Trump to another potential government shutdown this weekend, according to economists. A longer-term trend is also weighing on the currency, as investors shift out of the dollar and into hard assets such as gold, JPMorgan Chase said in a 2025 report.
The dollar's most recent leg down is due to "Trump's promotion of tariff policy and pressure on the Fed to lower the key rate," Alex Kuptsikevich, FxPro chief market analyst, told CBS News. "Over the past couple of weeks, these factors have resurfaced due to a new round of tariff threats and Trump's comments that he feels comfortable with the dollar at its current level."
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