Mitsubishi UFJ analyst Lee Hardman said in a report that the US dollar is expected to hit its worst annual performance since 2017 and face further weakness next year. The US index is expected to fall 9.3% this year. Its decline this year and 2017 both coincided with the beginning of Trump's presidency. Hardman noted that the US dollar recovered some of its losses in 2018, rising 4.4%, but a similar recovery is unlikely in the coming year. He believes, “As the Federal Reserve cuts interest rates further and other G10 central banks have ended the easing cycle, the spread between US debt and treasury bonds of other major economies will continue to narrow.”

Mitsubishi UFJ analyst Lee Hardman said in a report that the US dollar is expected to hit its worst annual performance since 2017 and face further weakness next year. The US index is expected to fall 9.3% this year. Its decline this year and 2017 both coincided with the beginning of Trump's presidency. Hardman noted that the US dollar recovered some of its losses in 2018, rising 4.4%, but a similar recovery is unlikely in the coming year. He believes, “As the Federal Reserve cuts interest rates further and other G10 central banks have ended the easing cycle, the spread between US debt and treasury bonds of other major economies will continue to narrow.”