Major indicator of US economic strength has worst run since 1973
Daily MailJUL 2
U.S. Dollar Suffers Worst First Half Since 1973
Above: U.S. dollar banknotes in Fuyang City, Anhui Province, China, on June 29, 2025. Image copyright: Costfoto/NurPhoto/Getty Images
The Spin
Anti-Trump narrative
Trump's reckless presidency is orchestrating the dollar's demise through sheer incompetence and authoritarian impulses. His trade wars, Fed intimidation, fiscal vandalism, and diplomatic sabotage are systematically destroying decades of monetary credibility. Like a destructive child wielding dynamite, the U.S. President is single-handedly demolishing America's greatest economic weapon — the dollar's global supremacy.
Establishment-critical narrative
The dollar's twilight was inevitable — a natural consequence of America's fiscal recklessness, mounting debt burdens, and the inexorable rise of multipolar alternatives. Global de-dollarization accelerates as nations seek currency independence, central banks diversify reserves, and economic gravity shifts eastward. This systemic transformation transcends any single leader's influence or incompetence.
Pro-establishment narrative
Despite dramatic headlines proclaiming the dollar's death amid its recent decline, such fearmongering ignores fundamental realities. The greenback commands most of the global reserves and dominates international transactions. Recent Asian currency surges merely create temporary turbulence — not systemic collapse. The dollar's deep-rooted supremacy in global finance renders obituaries premature and misguided speculation.