The U.S. dollar started 2018 on the wrong foot, hitting its lowest point since mid-September.
In fact, the greenback lost value for almost all of 2017. It plummeted despite factors that typically drive up the dollar, like the passage of tax cuts and an overall healthy U.S. economy.
But compared to the world’s most traded currencies, the dollar fell nearly 10% last year. It’s down 2% since December 15, according to the ICE dollar index.
Political turmoil stemming from the 2016 election, better global growth and uncertainty over whether the tax bill would even happen pushed the dollar south to start last year.
But more recently, experts say dimmed expectations for the tax bill’s impact on the U.S. economy, along with international factors, have caused the dollar to continue drifting down.