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China is aiming to establish its currency, the yuan, as the major rival to the dollar in global trade. It has established new alliances with Russia and other nations that are ready to conduct direct transactions in Chinese yuan. It is not surprising that Russia is taking steps to undermine the dominance of the U.S. dollar, as Western sanctions have tried to exclude Russia from worldwide financial operations, which has led the Kremlin to seek substitutes such as conducting international trade in rubles, yuan, or even gold. The current concern among U.S. officials is that Saudi Arabia may announce its decision to stop pricing oil exclusively in dollars, which would officially mark the end of the dollar's role as the world's reserve currency.
Note: Note: Full TP, SL for winning the market and safe trading!
China is aiming to establish its currency, the yuan, as the major rival to the dollar in global trade. It has established new alliances with Russia and other nations that are ready to conduct direct transactions in Chinese yuan. It is not surprising that Russia is taking steps to undermine the dominance of the U.S. dollar, as Western sanctions have tried to exclude Russia from worldwide financial operations, which has led the Kremlin to seek substitutes such as conducting international trade in rubles, yuan, or even gold. The current concern among U.S. officials is that Saudi Arabia may announce its decision to stop pricing oil exclusively in dollars, which would officially mark the end of the dollar's role as the world's reserve currency.
Note: Note: Full TP, SL for winning the market and safe trading!
