It's 'nonsense' to suggest sanctions hurt the dollar - USD dominance has sent 'tinpot dictators' scrambling for alternatives
Washington's increased use of economic sanctions has sparked a movement among nations from China to Brazil to reduce their reliance on the dollar for trade and investment. And that has fueled much debate whether the so-calledBut it's"nonsense" to suggest US sanctions will erode the dollar's dominance, according to one economist.
"In the past decade, US Dollar is up 21% vs G10 & 37% vs non-China EM. The view that sanctions erode USD status is nonsense. If tinpot dictators want to wage war, get sanctioned and then need alternate payment means, that's signals Dollar dominance, not weakness...
. Putin's sway has worked on China, with 80% of trade between Russia and China conducted in the yuan and the ruble. IIF's Brooks was likely referring to just that – and suggesting that Russia's desperation to seek other methods of payment as it loses access to the dollar only underscores the greenback's dominance.
Like Brooks, several market thinkers have defended the dollar in the face of sanctions and efforts to de-dollarize. Nobel laureate
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
How Benjamin Franklin laid groundwork for the US dollar by foiling early counterfeitersBenjamin Franklin, the colonial inventor, publisher, diplomat and U.S. founding father, was so busy that it's easy to lose track of his accomplishments. Add to those his early work in printing colonial paper currency, which was plagued by a constant counterfeiting problem.
Leer más »
Stock market outlook: 2nd-half gains to be powered by falling US dollarA weakening US dollar will help power the stock market higher in the 2nd half of the year, Fundstrat says
Leer más »
Rupee unable to hold above 82/USD on possible RBI dollar buyingThe Indian rupee was unable to hold above 82 against the U.S. dollar on Tuesday on likely intervention by the central bank, traders said.
Leer más »
Dollar continues to weaken; end of FOMC tightening in sight By Investing.com*U.S. DOLLAR HOVERS NEAR 15-MONTH LOW AS INVESTORS SEE END TO FED RATE HIKES IN SIGHT $USD 🇺🇸🇺🇸
Leer más »
How Benjamin Franklin laid groundwork for the US dollar by foiling early counterfeitersBenjamin Franklin was an early innovator of printing techniques that used colored threads, watermarks and imprints of natural objects such as leaves to make it far harder for others to create knockoffs of the paper bills he printed.
Leer más »