Doubts about the US dollar’s status as the world’s safe-haven currency have plunged the greenback to its worst start to the year since 1973 and sent the Australian dollar rocketing to its highest level in almost eight months.
The US dollar index, which measures the greenback against a basket of currencies, slumped 10.8 per cent in the first half of 2025, the steepest drop for that period since Richard Nixon was president 52 years ago.
