Dollar Wipes Out Post-Trump Rally as Tariffs Upend Global Growth

The dollar has wiped out all of its gains since Donald Trump won the presidency in November as his aggressive tariffs upend global markets.

The Bloomberg Dollar Spot Index is hovering near its lowest since mid-October, right before the election, after tumbling in the wake of Trump’s tariffs announcement. While the currency recovered modestly in Friday trading, market volatility picked up again after China retaliated with levies on American imports.