Economics

Summary

“The safe haven properties of the dollar are being eroded,” said Deutsch Bank in a note to clients warning of a “confidence crisis.”

Since mid-January, the dollar has fallen 9% against a basket of currencies, a rare and steep decline.

“It is no longer hyperbole to say that the dollar’s reserve status and broader dominant role is at least somewhat in question.”

“Global trust and reliance on the dollar was built up over a half century or more,” says economist Barry Eichengreen. “But it can be lost in the blink of an eye.”