Internet reports that as a new wave of tariffs upends global markets, the dollar has erased all gains since Trump won the election in November last year. "The bear market for the dollar has arrived and is roaring," said Paresh Upadhyaya, director of fixed income and currency strategy at Amundi. He added that the dollar could fall 10% this year because the United States is "teetering on the brink of recession." This is in sharp contrast to earlier this year, when Trump's policy plans such as tax cuts and tariffs were seen as reasons to bet on a rebound in the dollar. In February this year, U.S. Treasury Secretary Basent said that Trump's policies were "completely consistent" with a strong dollar, thus confirming the government's strong dollar stance. "We may be in the early stages of a structural sell-off in the dollar," said Ed Al-Hussainy, strategist at Columbia Threadneedle Investment.