U.S. Dollar Plummets Amid Economic Uncertainty and Tariff Strife

The U.S. dollar fell sharply as investors shifted to safe-haven assets due to declining confidence in the U.S. economy. This decline was influenced by market reactions to President Trump's tariff policies, impacting Wall Street and leading to fluctuations in global currencies and a surge in gold prices.

The U.S. dollar experienced a significant downturn on Friday, with investors gravitating toward safe-haven assets amidst growing economic uncertainty. Notably, the Swiss franc, yen, and euro showed gains, alongside a peak in gold prices.

Contributing factors included a volatile market response to President Trump's fluctuating tariff policies. Despite a temporary tariff pause announced on Wednesday, intensified duties on Chinese imports remained, further straining international economic relations. This uncertainty prompted a sharp sell-off of U.S. assets, affecting Wall Street and Treasury yields.

Global currency trends reflected this uncertainty, with the dollar hitting multi-month lows against several major currencies, and a record low in offshore yuan trading. The market's unease was underscored by a dramatic rise in gold prices, highlighting investor anxiety over the unstable U.S. economic outlook.

(With inputs from agencies.)