FX.co ★ End of US dollar’s dominance nearing

Turkish publication Duvar weighs in on the future of the US dollar. The author of the article states that the greenback is beginning to lose its global reserve currency status. Sanctions became the main reason for the US dollar's widespread rejection. The White House uses financial instruments to achieve political goals, including the national currency. However, this only undermines confidence in the US currency. With each new sanction, the US dollar is losing ground. Such an approach to foreign policy is becoming tiresome. Thus, many countries choose to refrain from the greenback than comply with endless restrictions. Nevertheless, the US dollar is far from oblivion, but the trend is gaining momentum. According to Duvar, the US economy may collapse once it loses its hegemony in world trade and its leading position in GDP. The past year showed that the dollar’s dominance in world trade and the financial system is weakening.