According to online reports, Barclays analysts said in a report that the US dollar may fall further in the near future, but given the relatively elastic U.S. economy, the decline may be limited. Bond market volatility is creating an unfavorable environment for the dollar, while missteps in U.S. trade policy, shifts in rhetoric around tariffs or weak data could further weaken the dollar. However, analysts do not expect the dollar to depreciate significantly. They say the recent downgrade of tariffs means the U.S. economic losses may be smaller than feared. In addition to short-term uneasiness about the U.S. budget deficit, Trump's fiscal easing plan is more likely to strengthen the dollar than his choice of fiscal austerity.