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US Dollar Steals Global Payment Flows From Euro Amid Market Turmoil

From bnnbloomberg.ca

The use of the euro as a global payment currency dwindled last month, reaching the smallest share in more than two years, as the common currency comes under pressure amid a strengthening US dollar. Payments using the euro dropped to 34.5% of the market in August, a full percentage-point lower from the previous month, according to data from the Society for Worldwide Interbank Financial Telecommunications, or SWIFT, a global financial messaging firm. Meanwhile, the dollar has been gaining share since May and remained in the top spot for the fifteenth consecutive month with a 42.6% share, the report released Wednesday ... (full story)

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  • Category: Fundamental Analysis