UBS Warns of Dollar’s Decline as De-Dollarization Gains Momentum

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2025-06-25 12:28:01

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The US dollar index (DXY) plummeted to a three-year low in June, marking a 10% decline year-to-date as of June 16. UBS attributes this drop to mounting uncertainty surrounding US tariffs and economic policies. The bank's CIO advises reducing and hedging dollar exposure, citing deteriorating confidence in the greenback's stability.

Trade wars and unsustainable government spending during high-rate environments have eroded the dollar's safe-haven status. UBS sees no near-term recovery, noting that restrictive monetary policies clash with unchecked fiscal expansion. The report coincides with accelerating global efforts to settle trade in local currencies, further undermining dollar dominance.

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