US dollar heads for worst first half in more than 50 years amid Trump tariffs

Currency sold off due to concerns economic policies threaten safe-haven role of US dollar-denominated assets

The US dollar is on track for its worst first half-year in more than 50 years, after six months in which financial markets were dominated by geopolitical crises and Donald Trump’s trade war.

The dollar has fallen by more than 10% against a basket of currencies since the start of 2025. That is its worst performance over the first six months of any year since 1973, and the worst half-year since the second half of 1991.