The US Dollar's reserve currency status remains in a downtrend:
The US Dollar share of the world's central banks reserves fell slightly to 58.4% in Q4 2023 from 59.2% in Q3 2023, according to the IMF. By comparison, the US Dollar accounted to 71% of reserves globally in 2000. However, it is worth noting that the US Dollar remains the most dominant currency and it's not even close. For example. the Chinese Yuan's share in Q4 2024 was just 2.3% and the Euro's share is ~20%. Is the US Dollar's reserve currency status safe? Source: The Kobeissi Letter, BofA
Euro sinks on EU vote and French snap poll.
Common currency falls to lowest in a month. Hedge funds had recently turned net bullish on the Euro. Source: Bloomberg, HolgerZ
Japan likely dumped billions of U.S. Treasury holdings to finance its latest Yen intervention
Source: Barchart
BREAKING 🚨: Argentina
Argentina's Peso has plummeted to an an all-time low against the U.S. Dollar on the Black Market (which is where Argentinians go to convert to USD) Source: FT, Barchart
China now settles half of its crossborder trade in renminbi, up from zero in 2010
• Rise in RMB use highlights sanctions-proofing strategy of Beijing and its allies, such as Russia • China's promotion of CIPS, its homegrown alternative to Swift, may support rise in RMB use Source: Agathe Demarais
Global foreign exchange reserves.
The US dollar still dominates but share has been eroding sligthly Source: Michel A.Arouet
JUST IN 🚨: Treasury Secretary Janet Yellen says the Bank of Japan BoJ should consult with her before intervening to support Japanese Yen
Source: Barchart
Bearish Bets against the Japanese Yen rise to highest level in AT LEAST the last 18 years 🚨
Source: Barchart, Bloomberg
