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Bloomberg: Dollar Heads for Worst Presidential First 100 Days Since Nixon

12 hours ago

On April 26th, as reported by Bloomberg, an index that gauges the performance of the dollar indicates that the dollar is on track for its poorest performance since the initial 100 days of a U.S. president's tenure. The data traces back to the Nixon era when the U.S. abandoned the gold standard and transitioned to a freely floating exchange rate system. Since Donald Trump returned to the White House on January 20th, as of April 25th, the dollar index has dropped by nearly 9%, likely to mark the largest decline in the first 100 days of a president's term since 1973. In contrast, over the past few decades, the dollar has usually exhibited strength during the first 100 days of a new U.S. president. From Nixon's second term in 1973 to Biden's inauguration in 2021, the dollar has had an average rate of return close to 0.9%.
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