Before Tariffs. The unlikely, but in the realm of possible, bottom for the dollar is a dollar buys 1/3 a euro by the end of Trump's term. It started at very close to 1:1 at the beginning of his term. The long bet right now by the world's financial experts as exhibited in the bond market is in 15 years the dollar will buy 2/3 a euro -- but that does not mean it will not be lower than this during Trump's term. The long bet is based on the relative strengths of the U.S. economy to the rest of the world as it is at the moment and comes from very conservative analysis from organizations like BBVA that likely underestimate the impact that Trump is going to have on the long term value of the dollar rather than overestimating these impacts. Trump's policies and chaos are radically transforming the world's economic landscape and it is impossible for financial models to account for radical changes like this.
Because the position the U.S. dollar has is due to events of the 1940s and 1950s and not things we have done recently or can be reproduced in this era (e.g. a World War that leaves the U.S. unscathed), much of the damage Trump is doing to the dollar will be permanent. Even after his term ends and assuming the U.S. reestablishes sane economic policy, there is no getting past the fact the U.S. elected someone like Trump -- and therefore it could happen again.