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China is aggressively pushing the Chinese yuan for bilateral trade to dethrone the US dollar in global trade. It kick-started the motive after the Russian invasion of Ukraine and is pursuing the de-dollarization agenda for several trade policies. The Chinese yuan currently accounts for 3% of the global reserves after pushing it for bilateral trade. On the contrary, the US dollar foreign exchange reserves stand at 57.80%, according to the latest US dollar data from the International Monetary Fund (IMF). Also Read: EAUE Shuns USD, Settles $112 Billion in National Currencies China Cannot Dethrone the US Dollar, Says Analyst Source: Reuters / Getty Images Analyst Zongyuan Zoe Liu, a senior at the Council on Foreign Relations (CFR), explained that China cannot dethrone the dollar. She stressed that Chinese policymakers are wary of the situation, as lessons from previous currencies that tried to challenge the USD failed. The Chinese yuan will meet the same fate as internationalizing a curren...

The second half of May has proven to be a major plus for the cryptocurrency market. Yet, that could be set to get even better for the leading crypto by market cap. Indeed, With Bitcoin reaching a new all-time high price of $111,000 Standard Chartered Bank has recently theorized that an ongoing US dollar fall could incite an even greater BTC rally. The greenback has struggled mightily so far in 2025 for a variety of reasons. Macroeconomic pressures and geopolitical tensions have left the global reserve currency at three-year lows. That could prove to be a benefit to the digital asset sector and Bitcoin’s price specifically. Source: Freepik Also Read: Standard Chartered Apologizes for $120k Bitcoin Target: Says It ‘May Be Too Low’ Bitcoin Set for 2nd All-Time High in 2025? Standard Chartered Says US Dollar Can Make It Happen In a recent speech, US Vice President JD Vance says the country did not believe that “Bitcoin competes with the US dollar.” Yet, that doesn’t ...

There is no respite for the US dollar in the currency markets as the DXY index is only heading south. The DXY index, which measures the performance of the US dollar is now at the 99 level. It briefly touched 100 early this month but failed to hold on to its resistance level. The greenback has never been this weak for 12 years and is only losing steam against local currencies. Also Read: Warren Buffett’s $330B Portfolio Holds 58% in Just 4 Power Stocks Source: MarketWatch Leading local currencies are having an upper hand in the forex markets and racing ahead of the USD. The US dollar had touched a high of 109.40 this year but quickly slipped below the 100 level in the currency markets. Federal Reserve Governor Christopher Waller said to Fox Business that reducing tariffs to 10% could push the markets on the right track. “If we can get the tariffs down close to the 10% and then that’s all sealed, done, and delivered somewhere by July, then we’re in good shape for the sec...

The US dollar’s dominance in global trade has seen a steady decline over the last decade. Many nations have opted for local currencies for mutual trade. The BRICS bloc of nations has particularly pushed for de-dollarization. BRICS is comprised of Brazil, Russia, India, China, South Africa, and a few more member states. China has single-handedly propelled the idea of ditching the US dollar for alternative currencies. Albeit the CCP will likely not accept any other currency than the yuan. Also Read: Goldman Sachs: MAG7 Hits 7-Year Low Amid AI, Trade & Antitrust Fears CBDCs And China’s CIPS Further Push For De-Dollarization Source: Watcher Guru Also Read: $1,000 in Shiba Inu & XRP: Which Will Give Better Returns in 2030? A majority of global central banks are working on CBDC (Central Bank Digital Currency) pilot programs. According to reports, around 130 countries (93% of central banks) are exploring CBDCs to enhance cross-border payment efficiency. An efficient and working CBD...

BRICS currency is the talk of the town lately as the alliance is looking to trounce the US dollar’s dominance. Brazil, which chairs the upcoming summit in July confirmed that the bloc is working on a new payment system where non-members will be allowed to settle transactions. The development could be a game-changer after launch as the US dollar will not be incorporated into the payment mechanism. Also Read: De-Dollarization Reaches European Shores: EU Questions US Dollar Usage The threat of a BRICS currency is looming large and the superiority of the US dollar remains under pressure. Developing countries want to disassociate with the USD as it carries the risk of debt. Holding it in their central banks without diversifying their assets leads to bigger financial issues, including absorbing inflation. Emerging nations are turning to protectionists in a bid to safeguard their economies from America’s debt. Also Read: BRICS Makes Huge Announcement On New Payment System Will BRIC...

The BRICS alliance is aiming to launch a new currency to challenge the US dollar and topple it from the world’s reserve status. The bloc came to a consensus that a new tender is required for its survival after the White House pressed sanctions on Russia. Developing nations believe that the US is weaponizing the greenback to make other countries fall in line with its policies. The rift between the East and West is growing as emerging economies want to hold a dominant role in global finances. Also Read: BRICS: US Dollar Is Now an Unreliable Currency, Say Analysts BRICS Currency: What Are the Advantages & Benefits? Source: Cryptopolitian.com The first and foremost advantage of launching a BRICS currency is the diminishing influence of the US dollar in the global sector. The greenback cannot influence financial developments and reduce its power to any other local currency. The move would encourage developing nations to come together and remain united in advancing the de-dollarization ...

BRICS member India is repeatedly making it clear that they will not ditch the US dollar for trade and transactions. India’s Foreign Minister S. Jaishankar spoke in the Parliament regarding the de-dollarization agenda and the country’s role in it. He confirmed that India is steering off any anti-dollar moves amid US President Donald Trump’s tariff threats. Also Read: BRICS: New Country Plans to Reduce 25% of Trade Without US Dollar “BRICS, a platform that has grown in membership and agenda over the last two decades, seeks to enhance understanding among the international community,” said Jaishankar in response to a question in the Lok Sabha Parliament. Trump had threatened to impose tariffs on India and all BRICS nations if they plan to reduce dependency on the US dollar. Jaishankar added that India has conveyed its stance to the US authorities during bilateral discussions that they will not pursue the BRICS agenda of sidelining the US dollar. Therefore, the de-dollariz...

Donald Trump is back in the White House and is steadily focused on one agenda only, which is to make America great again. His MAGA efforts are also directed towards bolstering the US economy and, in turn, robusting the US dollar by making it one of the strongest currencies ever to exist. His aggressive tariff policies are directed towards extinguishing threats against the American regime and curbing the rising de-dollarization narratives that have lately been gaining steam. Here are two ways in which Trump’s aggressive tariff gamble may turn out to be the most promising strategy for boosting the US dollar. Also Read: Can Dogecoin Surge to $2 if a DOGE ETF Gets The Green Light? Donald Trump and His US Dollar Strengthening Formula: Tariffs Source: MarketWatch Trump is currently on a solid mission to deploy tariffs on nations. These tariffs have been levied primarily to help the US economy gain momentum and traction on a global pedestal. This development also aims to strengthen US ma...

Banking giant Goldman Sachs’ CEO David Solomon has once again shared new statements about the US dollar and the rising Bitcoin supremacy. Solomon stated how the bank is still reluctant to explore crypto from a regulatory perspective. The GS CEO later asserted that he is betting big on the US dollar, touting Bitcoin as an “interesting speculative asset.” Also Read: CME Set to Launch XRP and SOL Futures in February – Major Market Shift Incoming Goldman Sachs’ Stance on Cryptocurrency Source: News18 While speaking to Andrew Ross Sorkin of CNBC, Goldman Sachs CEO David Solomon shared his honest thoughts about the rising cryptocurrency narrative. As the US political domain inches closer to establishing a positive crypto market narrative, Solomon shared how the bank’s regulatory approach does not allow the entity to hold crypto. “The world changed; you and I could have a discussion about it,” he said. The aforementioned sentiment had earlier been echoed by Solomon in December 2024...

BRICS member Russia confirmed that it has settled 80% of trade with its neighboring country Kazakhstan in local currencies and not the US dollar. Russian President Vladimir Putin confirmed the development saying that both nations have agreed to strengthen their trade ties. Also Read: BRICS Moving Away From the De-Dollarization Agenda “The problem is and partly remains but we have already transferred more than 80% of all settlements to national currencies. From my point of view, everything should be done to strengthen our ties,” said Putin. Russia is advancing the BRICS de-dollarization initiative to its neighboring countries by putting the US dollar behind local currencies. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Local currencies will strengthen in the forex markets and give developing countries a boost in the arm. This puts the US dollar’s hegemony at risk as emerging economies are looking to topple it as t...

The US political arena is undergoing a transformative change. With Trump taking over the White House, the US anatomical structure is in the queue for a revamp, the kind that prioritizes the glorious American legacy above all. Trump’s recent comments about protecting American integrity by curbing the calls for de-dollarization are set to play a central role during his term, which may kickstart the era of “re-dollarization” as the Trump-Musk duo continues to put leashes on forces eroding the integrity of the United States. Also Read: Massive Crypto Whale Buys 200 Million Dogecoin Worth $45 Million De-Dollarization End: Trump’s US Dollar Revival Strategies May Boost The Greenback Source: MarketWatch Elon Musk was recently crowned as the head of the Department of Government Efficiency, or DOGE. Trump had briefly mentioned Musk’s political debut in one of his electoral rallies, adding how the Tesla CEO’s guidance could prove lucrative for the domain. Today, Musk took to X to shar...

The forex markets are throwing surprises in October , as Malaysia’s local currency, the ringgit, outperformed the US dollar on Monday. The decline in the US dollar comes as traders hold weak sentiments, reassessing their stance on the Fed’s interest rate cuts. An economist noted that forex traders possibly believe the Federal Reserve could take more time to reduce interest rates again . Also Read: BRICS: India Makes Major Announcement On U.S. Dollar Usage Source: Forbes This is adding pressure on the US dollar , strengthening local currencies in the charts this month. The Malaysian ringgit stood at 4.2150/2240 against the US dollar on Monday as the currency marginally traded higher. The DXY index, which tracks the performance of the US dollar, shows the currency dipping into the 102.4 price range. The USD traded a bit higher last month at around 102.75 . Also Read: UAE Slashes VAT on Crypto Transfers – Explore What It Means for You Malaysia’s Ringgit Beats the US Dolla...

Bitcoin has been the leading cryptocurrency for quite some time. Now, it is making significant strides in the financial world alongside the Euro (EUR). This change could challenge the US Dollar’s dominance. As market dynamics shift, these currencies’ performances and their dance with the greenback are interesting. Let’s explore this further. Also Read: Tron Surges Past Ethereum & Cardano into Top 10 Cryptos Bitcoin (BTC) & EUR vs. US Dollar: Volatility, Security & More Market Volatility and Currency Relationships The relationship between Bitcoin (BTC) and the EUR/USD pair has evolved over recent years. Above, you can see the Bitcoin/USD and EUR/USD charts from 2017 to 2024. It shows both Bitcoin and the Euro demonstrating resilience against the US Dollar at key support levels. Bitcoin’s price has stayed strong even when EUR/USD trends were down. This shows Bitcoin might outperform traditional currencies in some market conditions. Bitcoin Security Concerns and Regulator...