US dollar has worst first six months since 1973, falling nearly 11%

The U.S. dollar has had its worst first six months since 1973, after falling by nearly 11%.

The dollar fell by 10.8% against other currencies since the start of 2025, which is also its worst half-year performance since the second half of 1991, The Guardian reported.

The sell-off of the dollar has pulled its index down to its lowest level since March 2022 and lifted the UK pound to a three-year high of $1.37, up from $1.25 at the start of 2025.

Some economists are attributing the investor sell-off to concerns that President Trump's economic policies – including tariff increases on U.S. trading partners – threaten the safe-haven role of dollar-denominated assets. And they predict his "Big Beautiful Bill" will increase the national debt.

“The US dollar is the most notable loser so far this year as it has lost 10% against other currencies, with investor concerns regarding Trump’s policies having weighed on the greenback. On the other hand, the euro has risen by 5%,” UniCredit Bank analysts said.