Crashing share prices, a sell-off in bonds and currency chaos erasing trillions of dollars of wealth in a matter of days. “I think Trump’s trade views are folly and madness. “My basic thesis is that the dollar will remain the dominant global currency for the foreseeable future as there are not viable alternatives. Sterling – the global reserve currency before the US’s rise to dominance after the second world war – accounts for about 5%. Some within Trump’s administration, however, view the dollar’s status as the international reserve currency with distaste, as another sign of the world freeloading off the US.

Source: The Guardian April 12, 2025 05:14 UTC