US dollar’s global reserve currency status in danger, warns Eurizon SLJ Asset Management
The US dollar’s global reserve currency status is in trouble, according to Eurizon SLJ Asset Management. They say it’s declining at an alarming pace, with an 8% drop in just one year. That’s equivalent to 10 times the average annual decline in previous years.
The firm’s strategists blame the decline on the US’s tough sanctions against Russia during the Ukraine war. The dollar’s share of global reserves has gone down from two-thirds in 2003 to 47% in 2023. Although the dollar’s dominance may last a little longer, the strategists predict that it won’t be for much longer.
Clever Robot News Desk 19th April 2023
