Economy

Seismic slump leaves investors panicked over dollar’s future

It just may have been the week that broke the greenback

Signs of cooling inflation have bolstered bets that the US Federal Reserve will soon stop hiking interest rates, as the US currency is teetering at the lowest level in more than a year. Picture: Getty

It’s been a bad week for the dollar.

The greenback’s worst slump since last winter has left many strategists and investors worried a turning point is finally at hand for the world’s primary reserve currency.

If their fears come true, there will be far-reaching consequences for global economies and financial markets.

Signs of cooling inflation have bolstered bets that the US Federal Reserve will soon stop hiking interest rates, as the US currency is teetering ...