US dollar slideds to session lows. The winners on the day are a telling sign of the times

The US dollar is hitting session lows across most of the foreign exchange market. The possibility of a new trade war is emerging as the US President insists on annexing Greenland, which could lead to a confrontation with the EU, potentially involving financial showdown or counter-tariffs. If tensions escalate, the trillions of USD assets held in Europe could prompt central banks to reconsider their dollar holdings. This could explain the pressure on the US dollar today. The euro's short rebound today only counteracts sell-offs from the previous week. Notably, the Swiss franc and the New Zealand dollar are performing well, reflecting their statuses as safe havens in uncertain times. The market appears to favor weakness in the US dollar.