Experts warn that the US dollar could be subjected to what looks like a “triple blow” in the coming weeks, further weakening the currency during a period historically seen as stressful for it. According to Standard Bank, the dollar could be negatively affected if the US Supreme Court rules that the tariffs are illegal, in addition to the possibility of appointing the director of the National Economic Council in the White House, Kevin Hassett, as head of the Federal Reserve Board. The bank also signaled the possibility of a jump in the Japanese yen if Japan raises interest rates this month. Read more: Yen expected to rise 10% against dollar if US interest rate cut. Deutsche Bank, for its part, believes that there is room to raise interest rates in Japan as well, in addition to improving economic data in other countries, which could further weaken the dollar during the end of the year. Warnings of triple pressure on the dollar Stephen Barrow, head of G10 strategy at Standard Bank, said in a note: “The interest rate hike, coupled with a decision to invalidate tariffs, and Kevin Hassett assuming the presidency of the Federal Reserve Board, could actually be a triple whammy that destabilizes the dollar’s position. 2026.” Also Read: Bloomberg Economics: The era of dollar dominance is coming to an end. Barrow added that currency trading usually experiences a lull at the end of the year, as liquidity in the markets decreases as investors close their positions in preparation for the start of a new year. Despite this seasonal calm, he emphasized that it would be “difficult to believe that the illegal ruling of an important pillar of Trump’s policy will not have consequences for the dollar.” Tim Baker, a macro strategist at Deutsche Bank, said December was the “worst month for the dollar” over the past decade, with traders often selling the currency to offset gains made in other US assets throughout the year. He added that potential tightening by the Bank of Japan and economic surprises outside the United States could cause a reversal of the recent dollar buying trend this month. Expectations for the dollar to fall 2% in December Baker wrote in a note: “We see room for the dollar to fall to the low levels recorded in the third quarter, ie about 2% below its current spot price.” The Bloomberg Dollar Spot Index rose 1.5% in the current quarter, after gains of nearly 1% during the July to September period, when the index recovered from its lowest level in three years. The potential nominee to head the Federal Reserve represents an additional source of pressure on the dollar, as President Donald Trump has indicated he may choose Kevin Hassett, his chief economic adviser, to lead the central bank. Hassett is widely seen as a proponent of sharp interest rate cuts, which could prompt markets to price in further cuts in the next year. Hassett’s choice to lead the Fed could weaken the dollar “The market suggests that, perhaps under Hassett’s leadership of the Fed, the bank’s policy may lean more toward monetary easing,” said Van Loo, head of global currencies at Russell Investments. He explained that his appointment could further weaken the dollar, surpassing its lowest levels in four years against the euro this year, which reached around $1.19. You may be interested in: Expectations of the continued dominance of the dollar for these reasons. On the other hand, Deutsche Bank and Standard Bank reported that historically any rise in Japanese interest rates would not have led to a sharp rise in the value of the yen, especially against the dollar. Markets raised their bets on a 25 basis point hike this month, with the possibility of tightening at 80%, after the Bank of Japan on Monday gave its strongest signal yet that it may tighten monetary policy.