The U.S. dollar experienced a modest rise on Wednesday but is projected to end April as its weakest month since November 2022, due to volatile trade policies under President Donald Trump. The inconsistency has left the dollar vulnerable while strengthening the euro, yen, and Swiss franc.
The Trump administration has backtracked on several of its broad tariff announcements from early April, which initially triggered a global stock market tumble and scared investors away from the usually secure U.S. dollar and Treasury bonds. Recent steps to soften automotive tariffs have attempted to mitigate these impacts.
Economists remain wary of the tariffs’ economic implications, foreseeing growth slowdowns and potential rises in inflation and unemployment. Meanwhile, other currencies like the euro and Swiss franc have gained substantial ground as investors continue to move away from U.S. assets, citing monetary policy concerns.
(With inputs from agencies.)
