US dollar ticks down

The U.S. dollar fell in late trading on Wednesday.

The dollar index, which measures the greenback against six major peers, decreased 0.24 percent to 98.142 at 15:00 (1900 GMT).

In late New York trading, the euro added to 1.1662 dollars from 1.1645 dollars in the previous session, and the British pound was up to 1.3442 dollars from 1.3386 dollars in the previous session.

The U.S. dollar bought 147.97 Japanese yen, lower than 148.28 Japanese yen in the previous session. The U.S. dollar was up to 0.8040 Swiss francs from 0.8038 Swiss francs, and it rose to 1.3797 Canadian dollars from 1.3780 Canadian dollars. The U.S. dollar fell to 9.4280 Swedish kronor from 9.4472 Swedish kronor.

Washington's assertive moves, from attacks on Venezuela to threats against Iran and Greenland, reflect the final outburst of a declining unipolar order and may encourage countries in the Global South to band together as uncertainty grows, said American University history professor Anton Fedyashin.

U.S. President Donald Trump's policy agenda has drawn widespread criticism from governments around the world, as Latin American governments condemn the kidnapping of Venezuelan President Nicolas Maduro, and the European Union sharply rejects Trump's claims on Greenland, a territory of Denmark.

In a recent interview with China Global Television Network (CGTN), Fedyashin said that the U.S. president's brazen actions signal an impending end to America's excessive global influence.

"I think we are entering a period of global fragmentation, and that we are certainly entering a period when American hegemony is in relative decline. And I think that Donald Trump, by the way, is a manifestation. It's the 'extinction burst' of American hegemony, of the unipolar moment," he said.

Fedyashin predicted that stronger cooperation among Global South nations will become increasingly urgent as countries seek new pathways to accelerate development amid the renewed uncertainties from the U.S.

"What I think is more likely to start happening is that countries around the world will start banding together, in order to protect themselves against the United States, and against the West and whatever other outside actors there are. The world, the members of the Global South will start looking for alternatives to Western-dominated organizations, both economically and from the point of view of security. So I think that if the United States continues to be so unpredictable and aggressive, that the Global South, at least, will start coming together," said the historian.