China News by Thebittimes.Com

Goldman Sachs analyst has provided a gloomy prediction for the US dollar as BRICS aims to topple the US dollar from the world’s reserve currency. The US dollar is the worst-performing currency in the forex markets as the DXY index dipped below the 100 mark. It hit a low of 98.06 after falling from a high of 109.40 early this year. The greenback has dipped nearly 9% year-to-date and eight out of nine leading currencies outperformed it in 2025. Also Read: BRICS Makes Huge Announcement On New Payment System Source: MarketWatch BRICS: Goldman Sachs on The US Dollar’s Future: ‘Weakness Is Here To Stay,’ Says Analyst Source: iStock Kamakshya Trivedi, Head of Global FX at Goldman Sachs said that the US dollar’s weakness is here to stay. Trivedi explained that the geopolitical winds have changed as emerging economies are now looking at their own benefits similar to how the US does on foreign policies. The Goldman Sachs analyst remains bearish on the US dollar as B...

The de-dollarization initiative kick-started by leading developing countries is threatening the reserve currency status of the US dollar. Emerging economies are looking to use their local currencies for cross-border transactions to strengthen their respective GDP. The move also allows local currencies to compete in the forex markets and not be chained under the US dollar. Also Read: De-Dollarization Reaches European Shores: EU Questions US Dollar Usage The quest to topple the US dollar from the global reserve currency status is paying off as developing countries forge trade deals that equip them to settle payments in local currencies through the de-dollarization initiative. Several countries including India, China, the United Arab Emirates, and Brazil, among others, have paid local currencies for trade settlements. Also Read: Intel (INTC) Stock Climbs Amid Talks of Layoffs De-Dollarization: No Alternative Currency To the US Dollar Source: Freepik.com Ashishkumar Chauhan, the Managing D...

Amid a large economic downturn recently, there are wide concerns about an incoming recession in the United States. With that, the US dollar and overall economy take a huge tumble, heavily harming investors’ wallets. However, with its recent growth and developments as a major talking point, some analysts believe that Bitcoin , the leading cryptocurrency, could be a “safe haven” amid the recession concerns. Indeed, Bitcoin is growing more and more popular each day in the US, even becoming a talking point in government and in the presidential election. The US Department of Justice currently holds billions of dollars worth of seized bitcoin. With this stash, there have been proposals to transfer Bitcoin to the Department of the Treasury to transform BTC into a reserve currency for the country, which has brought mixed reactions. While it may be a long and complex process, the idea isn’t impossible and would set Bitcoin up to be a major game-changer for the safety of t...