The momentum intensified following the 2022 sanctions on Russia, when Washington froze Moscow’s dollar reserves and cut it off from the global financial system. Those events rattled confidence in the greenback’s reliability, and concerns have only deepened amid Trump’s policies, which threaten to disrupt global trade and economic stability. In response, central banks have also been building up gold holdings, supporting demand for the precious metal.
Still, the dollar retains its roleas the primary reserve currency and the standard for pricing key commodities like oil
much of that status stems from the vast liquidity of the US Treasury market, which allows investors to transact large volumes without moving prices—an advantage no other market currently offersthere are signs of erosion - Bloomberg’s dollar gauge has fallen more than 7% since peaking in February, as the narrative of US exceptionalism loses steam“We anticipate a rotation to other global assets, of which Asian assets could be a subset” South Korea, Singapore and China's currencies are likely to be the biggest Asian beneficiaries
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Summary of a Bloomberg piece citing GS.
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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