On April 16, due to ongoing concerns that Trump's tariffs will impact the U.S. economy, the dollar fell. Jefferies economist Mohit Kumar stated in a report, "People are questioning the credibility of American exceptionalism and the dollar as a reserve currency." He said that in the medium term, tariffs could undermine U.S. reliability, and investors will seek other destinations. He indicated that the era of a strong dollar has peaked, and the dollar may continue to weaken. As central banks around the world seek to reduce their dependence on the dollar, gold prices may benefit.