The latest data from Reuters shows that the US dollar fell against eight out of nine leading currencies in 2025. While leading currencies weakened after Trump won the election in November, things took a U-turn after he was sworn in this January. Trump repeatedly threatened BRICS and other countries with trade consequences through tariffs if they ditch the US dollar.
Also Read: BRICS: Analyst Reveals If the US Dollar Can Maintain Its Dominance
The US dollar dipped against all major currencies this year but only outperformed the Canadian dollar by a small margin of 0.1%. While the BRICS alliance could not topple the US dollar, the greenback is now damaging itself from within through tariffs. Below is the list of leading currencies that the US dollar has dipped in 2025:
- Swedish crown -8.6%
- Norwegian crown -6.5%
- Japanese yen -6.2%
- Euro -5.7%
- British pound -3.6%
- Swiss franc -2.6%
- New Zealand dollar -2.44%
- Australian dollar -2.03%
Also Read: BRICS: New Country Plans to Reduce 25% of Trade Without US Dollar
BRICS: US Dollar Dips Against 8 Out of 9 Leading Currencies
The DXY index, which measures the performance of the US dollar against a basket of six leading currencies has fallen to the 103.60 mark. The US dollar is down close to 4.65% year-to-date which is the biggest downfall in recent times. It fell from a high of 109.60 to a low of 103.20 this year in 2025. BRICS played no role in weakening the US dollar but the greenback was strangled by the White House.
Also Read: BRICS Makes Major Announcement on De-Dollarization
The Trump-induced tariffs are making the greenback weaker as other leading currencies rally in the forex markets. Since BRICS now remains in the shadows, the US dollar is still facing resistance as the trade wars kick-start. US allies, including many countries in Europe, loathe Trump’s tariffs as it dismantle the friendly ties forged through generations. The bitterness is on open display as European Union leaders called for the EU to reduce dependency on the US.
