The Dollar’s Reserves of Strength
The US-China trade war and the recent freezing of much of Russia’s official foreign-exchange reserves have again raised fears of an exodus from the dollar. But no one should write the greenback’s obituary just yet.
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LONDON – The freezing of much of Russia’s official foreign reserves has inevitably led some again to predict the imminent demise of the dollar’s “exorbitant privilege” as the world’s reserve currency of choice. But we should not write the greenback’s obituary just yet.