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As the dollar weakens, other currencies are gaining ground. The euro recently hit a five-week high of $1.14, with forecasts suggesting it could rise further to $1.25 by next year. Similarly, the British pound has the potential to appreciate to $1.45, and the Japanese yen surged to $142.54 against the dollar.
Currencies from nations with stable economic policies and fewer trade tensions tend to attract investors during periods of dollar weakness. This trend reflects a broader reevaluation of US economic policy and international confidence.