US dollar at risk of losing dominance, Wall Street bank warns ...News

The freezing of Russia’s foreign reserves has undermined trust in the greenback, Goldman Sachs economists say The US dollar is dealing with some of the same challenges that the British pound faced in the early 1900s, before it went into decline, Goldman Sachs said in a research note released on Thursday. The Wall Street bank warns that the greenback could lose its global dominance. According to the research seen by Business Insider, the move by Washington and its allies to freeze much of the Russian Central Bank’s foreign currency reserves has raised concerns that countries could start moving away from the dollar.

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