The dollar is down more than 25% since President Donald Trump signed a temporary executive order to rein in currency devaluation.
The U.S. dollar index was at 112.76 on Monday, down 0.2%.
The S&P 500 index was up 0.6%.
The dollar index rose by 0.5% to $1.2845, while the S&P 500 was up 2.7%.
The Dow Jones Industrial Average lost 1.7% to 20,822.52, the S-1 was down 0,4% to 17,564.09, and the Nasdaq Composite was down 5.6% to 5,945.16.
Trump signed the order Friday, after China devalued the yuan by 30% to an annual average of 6.7%, the U.K. dropped the pound to $.
S., and Canada’s benchmark index was down 2.9% to 1,811.93.
A currency strategist at JPMorgan said the move could cost the U,S.
economy more than $1 trillion.
“The Trump move has already had a significant impact on the U-3, and now we can see that the effect is already spreading to the U and the U/C,” he wrote in a note to clients.
Kelsey Shulman, a senior economist at Goldman Sachs, said it was hard to see how the order would have a significant effect on U.C.M.U.
C, the UCC, or the UCP, the government’s main indicator of economic growth.
Even if it does have a negative impact, she said, it would be difficult to see it translate into a sustained decline in the dollar.
We’re expecting it to have a small negative effect on the economy, but it’s hard to make that a significant one, she wrote.
There’s a very strong probability the UMCU will rise, but we’re not yet confident in its true impact.
It would be a very nice result, but the reality is that the dollar will still be down more,” she said.
While the dollar has declined since Trump took office, other currencies have been stronger.
Swiss francs fell 3.4% against the euro and the euro climbed 3.3%.
The Japanese yen rose 1.3% to 86.5 yen, while South Korean won rose 0.9%, and Chinese yuan weakened 0.1%.
The euro, the Japanese yen, and South Korean yen were also lower.
In other news,: A day after a U.N. investigation blamed Saudi Arabia for a chemical attack in Yemen, Saudi Arabia said it had opened an investigation into the incident.
The kingdom said on Monday that its military operation in Yemen was in response to the “terrorist” attack.
The United States said Monday that it has sent a military support team to the kingdom, which was part of a coalition of Arab states that is supporting President Abd-Rabbu Mansour Hadi’s government in Yemen.
team, which is investigating allegations of chemical weapons attacks by the Saudi-led coalition, arrived in Yemen in a military aircraft.
It will be based in Riyadh and the mission is expected to last for several weeks, the State Department said in a statement.