The U.S. dollar is expected to weaken due to concerns over the Federal Reserve’s independence, data accuracy, mounting debt, and potential interest rate cuts, according to a Reuters survey. President Trump’s actions, including dismissing the BLS commissioner, have added to these worries, leading to a nearly 9% decline in the dollar this year.

Foreign exchange analysts predict the euro will rise against the dollar in the coming months, reaching $1.17 by the end of October and potentially hitting $1.20 within a year. Concerns about U.S. economic strength and structural issues are driving this shift in currency outlook, with experts recommending selling the dollar on rallies.

Investor nerves are on edge as Trump criticizes Fed Chair Jerome Powell and potential succession changes loom. Interest rate futures suggest multiple rate cuts by the end of the year, impacting dollar strength. Despite some resilience in the U.S. economy, experts anticipate a continued decline in the dollar with growing short positions and a shift in near-term views.

Read more at Yahoo Finance: Trump’s attacks on Fed, data integrity weigh on US dollar forecasts: Reuters poll