China News by Thebittimes.Com

The de-dollarization wave is now gaining rapid momentum, with central banks exploring ways to diversify their holdings beyond the US dollar. A new Reuters report confirms a stark reality of the dollar’s allure waning within the global banks as de-dollarization takes hold. In addition to this, global banks have now begun to eye other lucrative assets, such as the Chinese yuan, gold, and the euro, to back their reserves, thereby keeping the dollar at bay. Also Read: HSBC Sees Euro at 1.20 as De-Dollarization Accelerates Banks Want More Gold, Not the Dollar. Source: Watcher Guru According to a new report by the Official Monetary and Financial Institutions Forum (OMFIF), banks managing trillions worth of reserves have now started to ditch the dollar. The report further adds how one in three of such banks may accelerate their exposure to gold in the coming years, a change that is rapidly gaining momentum in the sector today. “After years of record-high central bank gold purchases, reserve m...

Major Wall Street banks are now predicting that de-dollarization trends will continue accelerating, and they’re forecasting further weakness in the US dollar ahead. Right now, Morgan Stanley, JPMorgan Chase, and Goldman Sachs are all reinforcing their bearish calls on the greenback, citing interest-rate cuts, slowing economic growth, and President Trump’s trade policies as the main drivers. This global de-dollarization trend is gaining momentum as investors become increasingly concerned about currency diversification risks, and Wall Street’s dollar forecast models are pointing to significant declines ahead. Also Read: De-Dollarization: Full List of Countries Dropping the US Dollar & Key Reasons Wall Street’s De-Dollarization Fears Point To Global Currency Risks Source: Watcher.Guru Major Banks Signal Dollar Weakness Wall Street institutions are becoming more vocal about their concerns regarding de-dollarization, and Morgan Stanley has made headlines by predictin...