An overlooked effect of Trump's trade war: the weakest dollar in years

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• The US dollar is at a multiyear low versus its international peers.
• The declines are anomalous, as the greenback has historically gained during times of market turmoil.
• It suggests investors are losing faith in the US as a safe haven amid unpredictable tariffs.

While the impact of President Donald Trump's trade war on the stock and bond markets has been well documented, one crucial byproduct of the tariffs has slid under the radar.