Don't Be Fooled — The US Dollar Is Still Exceptional

The dollar has fallen about 10% in 2025, but it still underpins global markets with unmatched credibility

September 15, 2025

The US dollar may be down nearly 10% in 2025 — its steepest slide since 1973 — but history shows sharp selloffs often rebound within a year.

Even amid volatility, the dollar remains dominant: 58% of global reserves and 88% of FX transactions are still in greenbacks. Short-term headlines may worry, but the dollar’s credibility, scale, and trust continue to anchor the global financial system.

The dollar has fallen about 10% in 2025 amid trade wars, political tensions, and renewed talk of de-dollarization
Historical patterns show that past dollar selloffs have been cyclical, not structural
Irrespective of the news cycle, the dollar still underpins global markets with unmatched scale and credibility