Traders are betting heavily against the dollar, pushing it to its weakest level in nearly four years. The drop is largely driven by US policy uncertainty, concerns over the swelling debt load, and recent tariff news. The Bloomberg Dollar Spot Index is seeing its worst four-day drop since April. The Yen is rallying on speculation that the Fed and Japan are coordinating an intervention to support it. The Euro and Pound are also at multi-year highs as investors move money out of the US to chase growth elsewhere. Options premiums for betting against the dollar are at record highs. While the Fed is expected to keep rates steady tomorrow, the market is still pricing in nearly two rate cuts for the year.