US dollar near 3-year low as rate-cut bets, tariff fears rise
The US Dollar Index hit a 3-year low of 97 as Fed rate-cut odds jumped amid weak GDP data and Trump criticism of Powell. A 25 bps cut is 72% priced in for September. Tariff uncertainty and declining global trust add pressure. Despite leading in global payments, sentiment is fragile. A soft PCE reading may worsen the dollar slide.