Dollar's crown is slipping faster

The dollar has sunk to its lowest in three years as rapidly changing US trade policy unsettles markets and expectations build for Federal Reserve interest rate cuts, fuelling outflows from the world's biggest economy.

- DHARA RANASINGHE AND AMANDA COOPER

The dollar is down almost 10% against a basket of major currencies this year, leaving other countries grappling with unanticipated FX moves that are having a knock-on impact on economic growth and inflation.

“There's clearly solid dollar selling,” said Kit Juckes, chief forex strategist at Societe Generale.

Here’s a look at some of the biggest movers:

Scandinavia's currencies are the standout performers against the dollar so far in 2025. The Swedish crown is up 15%, its best performance at this point in the year in at least 50 years. Norway's crown is up 13%, its best run since 2008.