---
title: The war with Iran has done further damage to the global dollar system.
description: "The demise of the dollar’s dominance won’t be an overnight phenomenon, but the conflict in the Middle East is one more milestone along the way.\n \nThat can be seen in central bank holdings of gold exceeding valuation-adjusted dollar reserves for the first time in the Bretton Woods II era.\n\nSource: Bloomberg, Macrobond"
---

[Syz The Moment](https://blog.syzgroup.com/syz-the-moment)

# [The war with Iran has done further damage to the global dollar system.](https://blog.syzgroup.com/syz-the-moment/the-war-with-iran-has-done-further-damage-to-the-global-dollar-system)

 Written by [Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/syz-the-moment/author/charles-henry-monchau) | Apr 10, 2026, 1:47:18 PM

[View full post](https://blog.syzgroup.com/syz-the-moment/the-war-with-iran-has-done-further-damage-to-the-global-dollar-system)

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