Dollar Slide Extends After Biggest One-Day Plunge Since 2022

The dollar extended losses after its biggest plunge in three years, with the cost of hedging against further slides climbing to the highest since the Covid pandemic shuttered cities in early 2020.

Broad weakness in the US currency extended into Asia trading Friday, after the Bloomberg Dollar Spot Index closed down 1.5% at the end of trading in New York Thursday. The yen jumped 1% against the greenback, while the euro soared as much as 1.6%. The Swiss franc, a traditional haven, also climbed.

“It certainly does seem like US assets are broadly under performing amid the tariff uncertainty and ...