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Trump Weaponizing US Dollar Seen as Needless BRICS Provocation
Donald Trump’s pressure on countries around the world to stay anchored to a US-dollar-based financial system is a tactic that risks backfiring, market watchers say. Dollar dominance looks set to continue for the foreseeable future and emerging nations’ idea of setting up their own single currency is “hot air,” said Mark Sobel, a retired 40-year veteran of currency policy who worked at the US Treasury. Others say Trump’s comments may actually increase the likelihood of such agreements being made as countries look for ways to avoid the greenback. Trump on the weekend warned the so-called BRICS countries he ... (full story)
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