The value of the U.S. dollar dropped to a three-year low on Friday, according to Forbes and the U.S. Dollar Index (DXY) — which measures the value of the dollar against a number of foreign currencies. DXY showed the value fell to 99.01 around 5 a.m. ET, bringing the dollar’s year-to-date decline to 8%. Forbes reported that most of the value drop came after President Donald Trump’s tariff announcement last Wednesday, which he dubbed as “Liberation Day.”
Consumers weary amid tariffs, market swings
President Trump’s yo-yo tariff actions over the last week have also sent the stock market into turmoil. Stocks saw a major rally in response to President Trump’s announcement that he was suspending tariffs for 90 days on many U.S. trade partners — excluding China — on Wednesday. The following day, all three major indexes dropped as more retaliatory Chinese tariffs went into effect.
China strikes back: New tariffs on US goods as trade war intensifies
