Bloomberg: Dollar Faces Worst Presidential First 100 Days Performance Since Nixon
According to Bloomberg, a measure of the dollar's performance indicates that the dollar is heading towards its worst performance within the first 100 days of a U.S. presidential term since the Nixon era—when the U.S. abandoned the gold standard in favor of a free-floating exchange rate system.
Since Donald Trump returned to the White House on January 20, the dollar index has dropped nearly 9% as of April 25, poised for its largest decline within the first 100 days of a presidency since 1973. In contrast, in the past several decades, the dollar typically performed strongly within the first 100 days of a president's term, averaging a return rate of nearly 0.9% from Nixon's second term in 1973 to Biden's inauguration in 2021.
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