The dollar’s slide this week to multi-year lows against a number of currencies has come amid a fresh wave of concerns about US economic growth and the sustainability of foreign investor appetite for US assets.

With the Federal Reserve maintaining a steady overnight interest rate and many other central banks continuing to raise rates, the US currency has become less attractive to international investors. This helps to explain why the dollar has fallen to multi-decade lows against the pound and the Canadian, Australian and New Zealand dollars.