this post was submitted on 26 Jun 2025
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Politics

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A battered dollar is taking another beating as investors, unnerved by fresh signs of an erosion in U.S. central bank independence, waste no time in pushing the greenback back to its lowest levels in over three years.

The dollar was back at multi-year lows against a basket of other major currencies on Thursday , erasing a brief respite provided by safe-haven flows related to Middle East tensions earlier in the week.

Down 10% so far this year and set for its worst year since 2003, the dollar was expected to weaken further as renewed concern about Fed independence comes amid increased expectations for rate cuts and a looming July 9 deadline for trade agreements.

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