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Commenting on the potential shift, Pyshnyi remarked that it is a complex task that demands thorough and varied preparation. He states that dollar transactions still prevail in every sector of the foreign exchange market, though the proportion of euro-denominated transactions is increasing in many areas.
According to the agency, the dollar is predominant in global trade and represents most of the world's reserves. Key economies, such as Saudi Arabia and Hong Kong, link their currencies to it.
Nonetheless, according to Reuters, under Donald Trump, the U.S. initiated a trade war by enforcing substantial tariffs. The decision has prompted some to doubt the dollar's prospective status as the global reserve currency, according to Reuters.
Pyszny noted that a resurgence in investment and consumer engagement, driven by stronger connections with Europe and economic stabilization, might enable economic growth to increase moderately over the next two years to between 3.7 and 3.9 percent. He pointed out, however, that the economic path significantly hinges on the progression of the conflict.
source: reuters.com
According to the agency, the dollar is predominant in global trade and represents most of the world's reserves. Key economies, such as Saudi Arabia and Hong Kong, link their currencies to it.
Nonetheless, according to Reuters, under Donald Trump, the U.S. initiated a trade war by enforcing substantial tariffs. The decision has prompted some to doubt the dollar's prospective status as the global reserve currency, according to Reuters.
Pyszny noted that a resurgence in investment and consumer engagement, driven by stronger connections with Europe and economic stabilization, might enable economic growth to increase moderately over the next two years to between 3.7 and 3.9 percent. He pointed out, however, that the economic path significantly hinges on the progression of the conflict.
source: reuters.com
