Dollar Heads for Worst Year Since 2017

The greenback is on track to end the year down almost 7% against a basket of currencies tracked by The Wall Street Journal. That would mark its biggest annual drop since 2017.

The euro has jumped more than 13% versus the dollar, on track for its best year since 2017.

The British pound has risen almost 8% against the dollar, also its largest yearly gain since 2017.

The dollar diverged this year from other U.S. assets. Stock markets largely brushed off broadspan tariffs and other big shifts in economic policy, as well as the White House’s pressure on the Federal Reserve.