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Dollar Weakens on US Downgrade
Monday, 19 May 2025 13:16 WIB | US DOLLAR |DOLLAR

The US dollar index fell slightly to around 100.7 on Monday, following a surprise downgrade of the US government's credit rating. Moody's Ratings announced late Friday that it had stripped the US of its top credit rating, lowering it to Aa1, due to concerns about the nation's growing $36 trillion debt, in a move that could complicate President Trump's efforts to cut taxes. Treasury Secretary Scott Bessent dismissed the cut's significance on Sunday, saying the administration would spur economic growth that would outpace the national debt. He also warned trade partners that they would face the tariff rates President Trump threatened last month if they failed to negotiate in "good faith." Additionally, a series of mostly weak economic data released last week have fueled expectations that the Federal Reserve could still cut interest rates twice this year. The greenback weakened against several Asian currencies.

Source: Trading Economi

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