The declining dollar faces more headwinds after posting worst first-half return in 52 years!
Key Points
The U.S. dollar tumbled 10.7% against its global peers through June, making it the worst first half since 1973.
Many of the same factors causing weakness — likely will stay on the minds of investors as they seek other avenues for safe havens.
To be sure, the dollar’s continued decline is by no means a sure thing, and others on Wall Street think the trend down could reverse.
Fresh off its worst performance since Richard Nixon was president, the U.S. dollar faces a variety of headwinds heading into the second half of the year that could have important investing implications.
The greenback tumbled 10.7% against its global peers through June, making it the worst first half since 1973, back when Nixon broke the Bretton Woods gold standard. At its bottom, the currency hit its lowest point since February 2022.
The path ahead may not look much brighter.
That’s because many of the same factors — policy volatility, swelling debt and deficits and potential interest rate cuts from the Federal Reserve, just to name a few — likely will stay on the minds of investors as they seek other avenues for safe havens.
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