BRICS: US Dollar Hits 2-Year High as De-Dollarization is Failing
Despite the ongoing efforts to decrease global dependency on the BRICS alliance, the US dollar has continued to thrive, reaching a 2-year high amid ongoing de-dollarization efforts. Indeed, the Western currency has seen Treasury yields rise to their highest mark since the latter months of 2023, according to a Financial Times report. 2024 ended with the US economy headed straight toward the Federal Reserve’s 2% target. Moreover, it has become one of the most impressive recoveries from its 40-year high inflation mark it reached post-pandemic. What’s even more impressive is that the growth has taken place amid the ongoing calls to end the dominance of the greenback on a global scale. Source: Freepik.com Also Read: BRICS Fail to Challenge US Dollar in 2024: Can They This Year? BRICS Don’t Stand a Chance to Surging Dollar as Pivotal 2025 Comes Into View With the arrival of Western sanctions in 2022, the BRICS economic alliance has sought to challenge the global status quo. ...