The dollar, considered the world’s reserve currency, is taking a beating from its fiat siblings. The dollar index, a measure of the currency’s strength compared to a basket of currencies including the euro, the Japanese yen, the pound sterling, the Canadian dollar, the Swedish krona, and the Swiss franc, is experiencing one of its worst results since the Reagan administration.

The index is hovering above the 96-point level, reflecting a loss of confidence in the stability of the economic and fiscal policies of the Trump administration. Analysts indicate that key factors contributing to the dollar’s continued slump include the instability of tariff policies, the pursuit of tax cuts, and potential interference with Federal Reserve decisions.

Brendan Fagan, a New York FX Strategist, believes this fall will continue to accelerate in the future. He stated that the dollar “looks set for more pain after sliding to a new multi-year low, as dovish Federal Reserve pricing, softer economic data, and heightened policy uncertainty all weigh heavily on the greenback.”

Recent indications from the U.S. government about increasing the already massive public debt may accelerate the flight of investors to other assets and currencies, leading to an even sharper drop in the coming days and months.

Analyst Justin Low believes that the coming week will be crucial in determining whether this behavior will accentuate or if the dollar will at least stall its fall. “The real test begins now, and we won’t have to wait long with the U.S. jobs report coming up on Thursday to provide some call to action,” he stressed.

Read more: Tim Draper: US Dollar Going Extinct—Bitcoin Set to Dominate Retail

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