The Globe and Mail reports in its Wednesday, May 21, edition that trade uncertainties, rising fiscal debt and concerns over U.S. exceptionalism have hurt U.S. assets, particularly the greenback, which is losing its appeal. A Reuters dispatch to The Globe reports that the Trump administration's tariffs led investors to reduce their exposure to U.S. assets after a period of strong performance. Although the dollar stabilized recently due to a truce in the U.S.-China trade war, it faced renewed pressure after Moody's downgraded the U.S. credit rating. Convera analyst George Vessey says, "There's plenty of room for further depreciation, purely from a valuation perspective." The U.S. Dollar Index has dropped 10.6 per cent from its January highs, marking one of the sharpest declines in three months. Speculators are net short on the dollar, totalling $17.32-billion (U.S.), nearing the most bearish stance since July, 2023. This bearish sentiment stems from the dollar's previous overvaluation, trading 22 per cent above its 20-year average in January. Currently, it is about 10 per cent above that average, with potential for further decline akin to lows seen during Donald Trump s first term.