NEW YORK — The dollar faces mounting selling pressure in the currency market as U.S. President Donald Trump’s tariff war and his dislike of international cooperation sap confidence in the currency even among American allies.
The U.S. Dollar Index, which measures the greenback’s strength against the yen, euro and other major currencies, sank under 100 here Thursday, crossing a major threshold. The index has fallen roughly 10% since Trump took office nearly three months ago and is at its weakest level since April 2022.
