Market Analysis: The market is selling off the US dollar, not the United States.

Odaily Planet Daily reported that market analyst Jeremy Boulton stated that traders are selling off the US dollar but not selling the United States itself. US Treasuries remain stable, while the stock market soars to new all-time highs. The stability in the bond market indicates that there are almost no, or no substantial, concerns about the economy. From this perspective, a weakening dollar is good news for the Trump administration, as it stimulates the US economy, supports the stock market, and lowers export prices amid the trade war. The dollar has only given back a small portion of the cumulative gains from 2011 to January 2025 (the beginning of the trade war). The willingness of the market to sell dollars helps alleviate the problems caused by the previous strength. That round of appreciation was excessive, technically overbought, and contributed to a significant expansion of the current account deficit. In the first three quarters of 2025, the US current account deficit narrowed from $450 billion to $226 billion. If the dollar weakens further, the deficit may continue to shrink. Overall, although the dollar has given back some of its strength, the US government almost need not worry. (Jin10)