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Hawaii Tourist Tax Comes Into Force
The U.S. dollar fell 9.5% against major currencies due to trade war tariffs and Federal Reserve policy uncertainty, raising questions about its long-term global dominance.
- This year the U.S. dollar is on course for its biggest annual drop in almost a decade, down about 9.5% against a basket of major currencies, George Saravelos said this ranks among the worst years for dollar performance.
- Markets reacted to the administration's trade stance, with panic blamed on the Trump administration's tariff policies and global investors in Europe reassessing unhedged dollar exposures.
- Analysts noted that unclear Fed policy is being reflected in currency and interest-rate moves, with the euro climbing nearly 14 to above $1.17, and the Russian ruble surging about 45% this year.
- Despite fears of an economic crash from tariffs, the Bureau of Labor Statistics data show grocery prices rose 2.7% in the 12 months to September, with coffee up 18.9%, and those fears have not materialized.
- Markets are watching potential Fed leadership changes next year, when Jerome Powell is expected to be replaced and analysts warn a new Fed chair cutting rates in 2026 could weaken the dollar further, possibly shifting reserves toward gold as central-bank reserve asset.
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Total News Sources2
Leaning Left0Leaning Right0Center1Last UpdatedBias Distribution100% Center
Bias Distribution
- 100% of the sources are Center
100% Center
C 100%
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