“Whether a recent fall for the US dollar portends a regime shift toward systematic weakness has key ramifications for global equity leadership. Key takeaways: US dollar weakness in the first half of 2025 has led investors to question if the strong dollar regime of the past 15 years has come to an end. A stabilizing currency more recently, however, suggests cyclical factors could be at play. Factors that have contributed to dollar weakness this year include hedging of US assets, the structural challenges of growing federal deficits and the Trump administration’s trade and tariff policies.”
Morten W. Langer
