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The US dollar is currently standing on a vulnerable threshold as its foes have started to double up at a rapid pace. As an active BRICS member, China has already ditched the dollar and is deepening ties with ASEAN, an alliance that pioneers the multipolar currency agenda. The collective strength of BRICS and ASEAN doubling down on the US dollar could prove lethal for the currency as the regional currency narrative, coupled with de-dollarization, is growing stronger with each passing time. In this quest, China has deepened its ties with ASEAN, as the recent McKinsey & Company outlines the stark geopolitical shifts that these regions are active parts of. Also Read: Ripple Announces Major Partnerships That May Help XRP Claim $0.65 China And ASEAN: Strengthening Economic Ties And Impact On The US Dollar Source: Business Telegraph Deepening Trade Relationship The economic interdependence between Asia and other regions is doubling rapidly. According to McKinsey and Company’s latest repor...

In a recent development, the US dollar has emerged as the ultimate winner in a clash against notable currencies. The US dollar has risen against many leading currencies, notably the Chinese Yuan , Japanese Yen , and Indian Rupee , proving its mettle and might as the chief global currency.  The emergence of the dollar’s prominence on a global scale denotes its lasting legacy and the faith that consumers have projected in the currency. Amid calls for de-dollarization and “dollar ditching,” the latest geopolitical tensions have pivoted investors to take refuge in gold and USD as a hedge during stark economic meltdowns.  Also Read: 3 Reasons Why Other Countries Are Ditching the US Dollar  US Dollar Rises: Yuan, Yen, and Rupee Falls: What Happened? Source: thuancapital.com On Wednesday morning (IST), the DXY index tracking the strength of the US dollar portrayed USD hovering at 106.36. USD was up by a notable 0.10%. The dollar is now projecting green as oth...

BRICS is looking to destroy the U.S. dollar but breaking the currency is not as easy as ‘said and thought’. The U.S. dollar commands the international markets and without the USD the global financial sector could collapse. The USD is the root of the world’s finances and uprooting the currency is a herculean task, even for BRICS. Therefore, the idea of sending the USD on a path of decline is seen as an empty threat that could never turn into reality. Also Read: Will BRICS Change Its Name After Expansion? So, if not BRICS , what could bring the U.S. dollar down to its knees and destroy the currency? In this article, we will highlight an insight given by a former hedge fund manager and financial analyst that can potentially destroy the U.S. dollar. BRICS: What Can Destroy The U.S. Dollar? Source: Watcher Guru Former leading hedge fund manager and financial analyst Russell Clark predicts that BRICS and other currencies might not bring the U.S. dollar down. Ac...

BRICS member China could use the Belt and Road Initiative (BRI) to advance the Chinese Yuan and diminish the USD. For the uninitiated, China launched the Belt and Road Initiative in 2013 and provides loans to developing countries to build seaports, infrastructural projects, and railroads, among others. China finances developmental projects worldwide by releasing huge loans to Pakistan, Sri Lanka, and several African countries. Also Read: BRICS: 15 Countries to Ditch US Dollar for Oil Trade? A total of 155 countries have signed the Belt and Road Initiative with China and received funds for developmental projects. However, reports indicate that BRICS member China could soon use the BRI initiative to further the Chinese Yuan ’s usage by putting it ahead of the USD for global trade. Read here to know the list of countries that have signed the BRI agreement with China. Also Read: BRICS: De-Dollarization Gaining Steam in Developing Countries BRICS: China Could Use Chinese ...

The U.S. Federal Reserve published research highlighting the well-being of the average American household. The survey shows that American household is mostly living paycheck-to-check in their quest to earn a livelihood. The cash flow of the U.S. dollar is hard to earn and accumulate due to inflation and job cuts. Therefore, household financial well-being is on a decline since 2022, reported the Fed survey. Also Read: 13 Countries Submit Applications To Join BRICS Alliance The Battle For The U.S. Dollar Source: schroders.com The U.S. dollar is now hard to save and invest due to rising rent, real estate, and day-to-day essentials hitting the roof. The household’s economic well-being is now on the backseat with basic survival motives sitting on the driver’s seat. The Fed survey conducted with 11,000 adults, identifies potential risks that tend to eat into their dollar s. The key findings in the report state that the average American household is unhappy with their income...