‘The damage is done’: Trump’s tariffs put the dollar’s safe haven status in jeopardy

Experts say fears about unpredictable policy are creating crisis of confidence in US bonds once seen as risk free'

Amid the global fallout from Donald Trump's liberation day" tariff announcement, it appears nowhere is safe. Crashing share prices, a sell-off in bonds and currency chaos erasing trillions of dollars of wealth in a matter of days.

On Friday, the dollar fell by more than 1% relative to a basket of other currencies to reach its lowest level in three years, compounding an almost 10% slide since the start of the year. In the space of a week, it has lost about 3 cents against the pound and 4 cents against the euro.