AI Summary
The US dollar weakened, extending a two-day decline, as President Trump struggled to secure support for his tax bill and traders anticipated a potential push for a weaker dollar by US officials at the G7 meeting. While trade war developments have slowed, talks with Japan and South Korea seem to have stalled. This, combined with rising US Treasury yields, contributes to a "sell America" trend among investors. Analysts predict further dollar weakening in the future due to fading tariff uncertainty and lower interest rates. A Moody's downgrade of US sovereign debt, ballooning fiscal debt, and trade frictions further weigh on US assets.
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