RBC argues that the scale and timing of the move may reflect doubts over the U.S.’s “exceptionalism” and its traditional safe-haven status. With the dollar still appearing significantly overvalued, the firm sees potential for further weakness ahead. For global investors, this has real implications: the declining dollar has weighed on the relative performance of U.S. stocks and bonds so far this year, especially when measured against international peers on a currency-adjusted basis.
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