In the first quarter, the economy shrank by 0.3% compared to the previous quarter, and the Bank of England hinted that the US dollar's position is declining.

The latest data released by the US Department of Commerce on April 30th shows that the US Gross Domestic Product (GDP) shrank by 0.3% in the first quarter of 2025 compared to the previous year. The severity of this data exceeded market expectations, highlighting the increasing uncertainty caused by the US government's tariff policies and resulting in a decline in confidence among businesses and consumers. British media reported that the Bank of England is evaluating the potential impact of the recent weakening of the US dollar, implying that the US dollar has lost its status as a safe-haven currency.