Confidence in the US dollar as a safe haven against economic shocks has decreased to a three-year low as the sell-off of the currency gained momentum on Monday following the long Easter break.
According to the Bloomberg Dollar Spot Index, the dollar fell as much as one per cent (1%) on Monday, as investor confidence in the greenback slumps.
The dollar dropped to its lowest level since March 2022, sparking fresh fears of global recession.
The currency that is often seen as the global reserve currency is quickly ceding ground following President Donald Trump's return to the White House in January.
