But more or less only the euro. The USD has strengthened or held steady against INR, RMB, CAD, AUD, etc. The euro is strengthening even more, however.
By those metrics the dollar has lost a lot of value in the last year
Once Diwali ended a couple weeks ago, Gold prices slumped [2].
The same thing happened with Silver [3].
You used to see similar stuff happen around CNY back when China was growing at double digit speeds [4].
[0] - https://www.cnbc.com/amp/2025/10/27/indians-spend-up-to-11-b...
[1] - https://www.reuters.com/world/india/winners-losers-indias-sw...
[2] - https://www.bloomberg.com/news/articles/2025-10-20/gold-s-re...
[3] - https://www.bloomberg.com/news/articles/2025-10-18/sold-out-...
[4] - https://ecomod.net/system/files/gold_and_china_ecomod2013.pd...
But more or less only the euro. The USD has strengthened or held steady against INR, RMB, CAD, AUD, etc. The euro is strengthening even more, however.