I think that’s the goal. Trump wants to devalue the dollar to make imports more expensive and exports cheaper. It’s inline with his tarriff policy to reduce the balance of trade deficit.
It’s just that countries don’t admit when they are devaluing currency, because devaluing currency could cause a loss in market confidence, devaluing it could cause a tit for tat currency war, or it could result in speculative attacks against the currency.
But just to emphasize my point, the dollars decline is intentional.