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.

Get a head start to your work day with Ryan Huang, Emaad Akhtar and Audrey Siek from 6am to 9am. 

Listen to insightful discussions on the stories and issues that matter the most to you and be apprised of the markets and the companies to watch.

Get a head start to your work day with Ryan Huang, Emaad Akhtar and Audrey Siek from 6am to 9am. 
Listen to insightful discussions on the stories and issues that matter the most to you and be apprised of the markets and the companies to watch.

Breakfast with Ryan Huang, Emaad Akhtar and Audrey Siek

Get a head start on your workday with Ryan Huang, Emaad Akhtar and Audrey Siek from 6 am to 9 am. 

Listen to insightful discussions on the stories and issues that matter the most to you and be apprised of the markets and the companies to watch.

Get a head start on your workday with Ryan Huang, Emaad Akhtar and Audrey Siek from 6 am to 9 am. 
Listen to insightful discussions on the stories and issues that matter the most to you and be apprised of the markets and the companies to watch.

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