Don’t bet on dollar dethronement
If you want to see how entrenched the US currency is in the global system, look at the foreign exchange swap market
If you want to see how entrenched the US currency is in the global system, look at the foreign exchange swap market

If the US currency continues to slide with cuts in interest rates, countries will be forced to take action

The normal order of what influences the world’s most important reserve currency is breaking down

Officials outside the US worry about what will happen when Jay Powell leaves the Fed

There is no precedent of a dominant power abandoning its primacy, as Trump is doing

‘Swap’ trades by hedge funds have exploded recently

The US dollar’s future is explored in Barry Eichengreen’s well-informed history on purchasing power in the monetary market