The US dollar has seen big declines in recent months.
Currencies rise and fall all the time but the recent drop in the dollar has been particularly dramatic.
So why has the dollar been falling and why does it matter?
What has happened to the dollar since Trump was elected?
The dollar was rising in the autumn in the run-up to the 2024 presidential election off the back of relatively strong US economic growth, and continued to strengthen after Trump's victory in November on hopes he might extend that trend.
Talk of his trade policy also had an effect, as many investors thought the tariffs that he promised to bring in would push up inflation, forcing the US central bank, the Federal Reserve to raise interest rates, or at least not cut them as fast as expected.
The prospect of higher rates in the US makes the dollar more attractive as it means investors will make more money on their cash in dollars compared to other currencies.
But the calculus has shifted in recent months as the details of his tariffs have emerged – often followed by pauses or, in the case of China, extensions – leaving much uncertainty surrounding the impact they will have.
US growth is now widely expected to weaken.
That has had a knock-on impact on the dollar, which has seen steep falls. Trump's attacks on Fed chief Jerome Powell for not cutting interest rates also appear to have added pressure to the greenback.
The value of all currencies goes up and down influenced by many factors such as inflation expectations and central bank policies.
But the dollar index, which measures its strength against a set of currencies, has fallen to its lowest level for three years.
