The dollar experienced a broad decline on Monday, driven by a shift in market sentiment towards a more negative outlook. Heightened concerns regarding the persistent U.S. trade deficit weighed heavily on the currency, prompting investors to reassess their positions.

Adding to the downward pressure were anxieties surrounding upcoming economic data releases, with market participants anticipating potential signs of weakness in the U.S. economy. This anticipation further dampened enthusiasm for the dollar, contributing to its slide against major currencies, including the euro and the yen.

Analysts suggest that the dollar’s near-term performance will likely remain sensitive to economic data releases and any further developments related to the trade deficit. The overall market mood could dictate the direction of the currency in the coming days.