Suggestions that the dollar's dominance of the global financial system is ending are wide of the mark, JPMorgan said on Wednesday, despite some dramatic...
LONDON - Suggestions that the dollar's dominance of the global financial system is ending are wide of the mark, JPMorgan said on Wednesday, despite some dramatic signs of change in commodity markets and certain trading blocs.
"Meaningful erosion of dollar dominance is likely to take decades, and the decline in the dollar's share of global trade and overall FX reserve holdings should not be confused with de-dollarization," the investment bank's report said. Washington's use of tough financial sanctions means Russia, China and other countries are building alternatives to the SWIFT bank-to-bank system.Dozens of central banks are piloting new digital versions of their national currencies that could also make avoiding the U.S. banking system easier.
All 72 deaths caused by the devastating fire were avoidable, the damning report found, as cladding manufacturers engaged in ‘systematic dishonesty’ and hid the true danger of their products while successive governments failed to act on warningsErik Ten Hag has les than a month to save job, says Alan ShearerSuggestions that the dollar's dominance of the global financial system is ending are wide of the mark, JPMorgan said on Wednesday, despite some dramatic signs of change in commodity...
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