US President Donald Trump is deliberately trying to weaken the US dollar to better serve America’s interest is a theory that is starting to gain traction in financial markets as investors grapple with the prospect of the world’s largest economy falling into a recession.

An idea that was once dismissed as crazy and implausible is now starting to be more widely discussed in financial circles. Dubbed the “Mar-a-Lago accord”, named after Trump’s private club in Florida, it aims to reshape global trade and the financial system in favour of the US.