The US Dollar Index (DXY) dropped to the fresh low since February late Tuesday, as softer US data joins downbeat fundamentals to weigh on the DXY. 

Is the dominance of the US dollar in global trade also facing a significant challenge with emerging global economies, such as China and India, stepping forward to trade in their own currencies?

As the world's second largest economy, China has been steadily increasing the use of its currency in international transactions, with many countries, including the members of BRICS (Brazil, Russia, India, China, South Africa) bloc, now settling trade deals in yuan.

Bloomberg reported that China’s yuan has replaced the US dollar as the most traded currency in Russia, a year after the invasion of Ukraine led to a slew of Western sanctions against Moscow.

So, is the dollar dominance dissipating as China and Russia tilt towards a new currency bloc?

Willie Keng finds out from Phan Vee Leung, CIO, Trackrecord in this latest episode of the Bigger Picture.

The US Dollar Index (DXY) dropped to the fresh low since February late Tuesday, as softer US data joins downbeat fundamentals to weigh on the DXY. 
Is the dominance of the US dollar in global trade also facing a significant challenge with emerging global economies, such as China and India, stepping forward to trade in their own currencies?
As the world's second largest economy, China has been steadily increasing the use of its currency in international transactions, with many countries, including the members of BRICS (Brazil, Russia, India, China, South Africa) bloc, now settling trade deals in yuan.
Bloomberg reported that China’s yuan has replaced the US dollar as the most traded currency in Russia, a year after the invasion of Ukraine led to a slew of Western sanctions against Moscow.
So, is the dollar dominance dissipating as China and Russia tilt towards a new currency bloc?
Willie Keng finds out from Phan Vee Leung, CIO, Trackrecord in this latest episode of the Bigger Picture.

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Start your day with the stories shaping Singapore &mdash; and your place in it.
Join Neil Humphreys and Audrey Siek as they cover the biggest headlines, trending topics, and everyday conversations, unpacked through fresh perspectives, expert insights, and engaging discussion. From current affairs and social issues to lifestyle trends and community voices, each segment offers a different lens on what&rsquo;s happening &mdash; and what&rsquo;s worth your attention.
And it&rsquo;s not just talk &mdash; it&rsquo;s your voice. Through polls, messages, and live call-ins, listeners are part of the conversation, sharing their views and shaping the discussion in real time. With a mix of clarity, curiosity, and personality, Let&rsquo;s Talk, Singapore keeps you informed, connected, and ready for the day ahead.