The correlation between the US dollar and Treasury yields has broken down, according to multiple financial sources. This change is linked to investor concerns about US economic policymaking under President Donald Trump and questions regarding the independence of the Federal Reserve. The weakening relationship, previously more common in emerging markets, has led investors to reassess their exposure to both the dollar and US government bonds. Policy volatility and worries about US fiscal management have contributed to this shift. Despite these developments, the US dollar continues to be the primary reserve and trading currency globally. The euro is often cited as a potential challenger but is unlikely to replace the dollar in the near term. Meanwhile, the Swiss franc is recognized as the world's strongest currency, with Swiss exports making up 75% of GDP and maintaining high competitiveness even with a strong currency.