New York –
The US dollar is falling at an accelerating pace as expected interest rate cuts by the Federal Reserve threaten to end the dollar’s multi-year strong run.
The dollar has fallen 5% from its 2024 peak, near its lowest level in about a year against peers after a sharp decline last month.
The reason is a looming decline in U.S. interest rates. For years, a robust U.S. economy and persistent inflation have kept rates well above those of other developed countries, making dollar-based assets more attractive and keeping the currency elevated even after it hit a two-decade high in 2022.
