Dollar slides to decade-low, US assets hit by loss of confidence
The post Dollar slides to decade-low, US assets hit by loss of confidence appeared on BitcoinEthereumNews.com.
On Friday, the US dollar slid to its weakest level in over a decade, as investors abandoned US assets over economic instability and policy uncertainty concerns. The decline of the greenback triggered a flight to other currencies and assets, including the Swiss franc, Japanese yen, euro, and gold, all surging in a week of ups and downs. The Dollar Index (DXY), a benchmark that measures the US currency against a basket of six major peers, fell 0.85% on Friday to 100.009. The index briefly dipped below the psychological 100 level for the first time since July 2023. Over the past month, DXY has shed 3.48%, down 5.66% over the last year. According to Chris Weston, head of research at Pepperstone, markets witnessed a “pronounced ‘sell USD’” sentiment, and capital was “migrating away from Ground Zero.” “The USD is losing the safe-haven bid,” Weston remarked. Dollar struggles create demand for other currencies, gold Data from TradingEconomics show the greenback dropped as much as 1.2% against the Swiss franc to 0.81405, the lowest since January 2015. It also slipped 1.1% against the yen to 142.88, marking its weakest since September 30. Against the Canadian dollar, the US currency slumped 0.5% to a five-month low of C$1.3910, while the euro rallied 1.7% to $1.13855, a level last seen in February 2022. Investors fleeing US assets drove up demand for gold, which climbed to a record $3,219.96 per ounce this week. Since the start of 2025, the precious metal has gained more than 22%, tracking its benchmark price on CFD markets. “We are entering a pure ‘sell USD’ regime. Rate differentials are losing their sway over the USD for the first time in my life,” reckoned Brent Donnelly, president of Spectra Markets. Markets were jolted a few times this week, and the frenzy continued…
Filed under: News - @ April 11, 2025 7:20 am