A broad trade-weighted measure of the dollar fell Friday to its lowest level since April 2022. The greenback is now down 10% since Trump took office.

The buck is weakening despite Trump’s tariffs. To protect themselves, investors should consider buying shares of companies that do a lot of business abroad, SocGen says.

In just a week, the dollar has gone from a safe haven to investors' whipping boy as U.S. President Donald Trump's chaotic tariffs on friend and foe alike undermine decades of trust in the world's reserve currency.