The U.S. Dollar Has Weakened Against Most Major Currencies in 2024

What we’re showing

This graphic shows how the U.S. dollar has performed against other major currencies around the world. Data for this graphic was sourced from PinPoint Macro Analytics.

Key takeaways

• The USD has weakened against most currencies in 2024, as markets anticipated the Federal Reserve’s first rate cut in several years
• Lower rates can reduce the dollar’s appeal relative to other currencies, particularly those in economies with higher interest rates