For decades, there's been one currency that has fueled the global economy, the U.S. dollar.

From Singapore to London to New York, business is done in good old American greenbacks.

And why do they choose a dollar?

Well, it's kind of like why does everybody speak English in a business meeting overseas? Because everybody else speaks English, right? It's kind of like almost through force of habit.

Our colleague Greg Ip is the journal's chief economics commentator. Everybody has agreed that things are simpler if you agree to do business in the English language or in the dollar.

And over the last 10 years, how would you say the dollar has been doing?

So from around 2014 through the first few months of last year, 2025, the dollar generally

rose. It was a very strong performing currency. And that was at a time when the U.S. economy

was also performing quite strongly.

Such a strong dollar has meant it's been cheaper to do business with it around the world,

and it shows a lot of faith in the American economy.

It was a gesture of confidence in the United States. It was kind of like a report card, right?

It was kind of like whether or not you actually have to go out and buy anything in another country, it's kind of nice that the world is saying these nice things about you and that your currency is strong. But in the last year, and especially over the last few weeks, the dollar has been on a downtrend. Let's talk about dollar weakness. It did see a dramatic drop over the course of a Tuesday trading.

A huge spike in gold and a huge plunge in the U.S. dollar.

The dollar losing its strength has got some economists worried.

But one person who's not so worried is President Donald Trump.

The current value of the dollar, do you think it's declined too much?

No, I think it's great.

I mean, the value of the dollar.

Look at the business we're doing.

No, dollars doing great.

What does it support for a weaker dollar say about Trump's approach to the global economy?

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