Recently, the trend of the US dollar has subverted the original expectation and shown a cliff-like downward trend. This is very surprising because the Fed has not taken action to cut interest rates, FederalInterest ratesIt remains at 525% to 55%. However, despite this,U.S. dollar indexIt has broken below the key 103 support level, which indicates that the US dollar is globalCurrencyThe war is under tremendous pressure, and Russia is fighting back, signaling a possible defeat for the dollar.
CurrencyGloballyEconomysystem plays a vital role as the main global oneReserve currency, the acceptance and liquidity of the US dollar is very wide and is widely usedInternationalandFinanceTrade. This makes the United States inInternational financial marketson a strong position and passedCurrencyThe war realizes itselfMaximize benefits。PastCurrencyThe case of the war shows that the United States intervenedLatin American countriesAchieved a hugeEconomyBenefit. The United States manipulated the exchange rate, ** restrictions andFinancecontrol and other means, rightLatin American countriescarried out a series of interventions on these countriesEconomyDevelopment has created serious constraints and consolidated the hegemony of the dollar in the region. And the harvest of Japan was initiated by the United StatesCurrencyA famous case in the war. In the 80s of the last century, JapanEconomybooming, the yen is gradually rising. In order to preserve the position of the dollar, the United States has taken a series of measures to contain the yen, which led to JapanEconomyA 30-year downturn. The United States has intervened in the exchange rate, strengthened ** restrictions and imposedFinancepressure and other means have weakened Japan's competitiveness and made Japan globalEconomyhas lost its voice and consolidated its presence in the Asian regionEconomySupremacy.
Now, the United States has been patiently laying out for more than ten yearsCurrencyWar. SinceSubprime mortgage crisisSince then, the United States has begun to implement a series ofQuantitative easingpolicy, through massivelyPurchase of Treasury bondsand othersFinanceassets to stimulateEconomyactivity, resulting in a large number of dollars being printed and flowing into the global market, for the follow-upCurrencyThe war laid the groundwork. With the outbreak of the new crown epidemic, the worldEconomyHit by an unprecedented shock, the United States has stepped up furtherCurrency** amount to copeEconomyRisk of recession. This move has intensified the liquidity of the US dollar in the global market, further highlighting the status of the US dollar on a global scale. However, in March last year, the United States suddenly raised interest rates sharply, which marked the worldCurrencyThe beginning of the war. This move has sparked a global market**, and many emerging market countries have been hit hard. The goal of the United States is clear, by raisingInterest ratesAttract capital back to the country and weaken the competitiveness of other countries. However, today's globalEconomyThe pattern has changed from the past, and countries continue to push for de-dollarization, which makes the United States initiatedCurrencyThe war has not been as effective as it has been.
Russia is a prime example. Since 2014, Russia has actively increased its US debt and gradually promoted the process of de-dollarization. Especially in the ** with Europe, Russia prefers to use the euro as the main settlementCurrency。In the case of Asian countries, Russia is pushing both sides to settle in their own currencies or in yuan. This de-dollarization trend was initiated against the United StatesCurrencyThe war had a direct impact. Last year, the United States expelled Russia from the SWIFT system, restricting its use of the US dollar in **, a move that led to a timeruble exchange rateSubstantially**. However, with the intervention of the Central Bank of Russia,rublesQuickly pick up and become globalCurrencyA small number of them achieved positive growthCurrency, declaredrublesIn with the dollarCurrencyWon a round in the battle.
It is worth learning from other countries that Russia has taken a number of measures in response to the United States-initiatedCurrencyWar. First of all, Russia has intensified its cooperation with other countries, especially with China and other Asian countries. This allows Russia to use its own country moreCurrencySettle and reduce dependence on the US dollar. Secondly, Russia actively promotes bilateral agreements with other countriesCurrencyswap agreement, which further strengthened the countryCurrencyofInternationalStatus. In this way, even in the face of dollar restrictions, Russia will still be able to conduct normal exchanges with other countries. Second, to the worldCurrencyReflections and Prospects of the War.
Under the trend of de-dollarization in various countries, the United States initiatedCurrencyThe war was not as effective as before. A growing number of countries are adopting a similar strategy, which explains why, in the absence of a rate cut by the Federal ReserveU.S. dollar indexStill substantially **.
In the past, the U.S. dollar relied on its globalReserve currencyThe status inCurrencywar, but now the United States initiated it as countries continue to push for de-dollarizationCurrencyThe war is much less effective than before. It is expected in the near futureU.S. dollar indexLikely to continue**.
However, we also need to see,CurrencyWar is not a long-term solution. In the context of globalization, between countriesEconomyIncreasingly connected,CurrencySigning of swap agreements and zonesEconomyThe strengthening of cooperation is a trend. Such a trend would help stabilize the worldEconomyOrder, reduceCurrencyThe occurrence of war.
InCurrencyUnder the threat of war, all countries should strengthen multilateral cooperation and strengthenInternationalCurrencysystem reform to promote a more equitable, stable and sustainable systemCurrencySystem. At the same time, strengthen theFinanceMarket stability regulation and risk management to avoidCurrencyWar against the globeEconomyandFinanceBring a bigger impact.
Under the current circumstances, countries should strengthen cooperation to build a more stable and reliable countryEconomyPartnerships to address the globeEconomyChallenges. Only through joint efforts can we achieve common prosperity and development for all countries.