"In the past, whenever there was a financial crisis or a major political conflict, investors would pile into dollar assets, driving the dollar up – as happened during the 2008 financial crisis. That hasn’t happened under Trump; the dollar index has fallen 10% against other currencies in 2025. ...
"The dollar, as the world’s major currency for central bank reserves and in transactions in international trade and finance, has been in gradual decline for decades."
https://thenextrecession.wordpress.com/2026/02/05/the-debasement-trade-and-the-future-of-the-dollar/