The dollar is off to its worst start to a year in more than half a century. The United States’ currency has weakened more than 10 percent over the past six months when compared with a basket of currencies from the country’s major trading partners.

The U.S. dollar has had its worst start to a year since 1973, weighed down by President Donald Trump 's trade policy, a worsening outlook for the country's ever-growing public debt, and concerns about the independence of the Federal Reserve.

The U.S. dollar selloff is nearing a new milestone. The ICE U.S. Dollar Index is headed for its worst first half of a year in at least four decades. It is down more than 10% in 2025, the biggest drop in data going back to 1985,