Most of the world’s currencies have weakened markedly against the dollar. The DXY, an index of the dollar’s worth against a basket of rich-world currencies, has climbed 18% this year, reaching its highest in two decades
for foreign-exchange trading, in a bid to restrain currency outflows. At the heart of the turmoil is the relentless rise of the American dollar and global interest rates. There is little relief on the horizon.largest tax cuts in half a century
But all face a shared set of challenges. Most of the world’s currencies have weakened markedly against the dollar. The, an index of the dollar’s worth against a basket of rich-world currencies, has climbed 18% this year, reaching its highest in two decades. Persistent inflation in America and the simultaneous tightening of monetary policy are making markets febrile.
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