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The de-dollarization may face its eventual demise in the near future. There is no doubt that there has been a growing sentiment against the US dollar over the last few years. China and other developing nations have expressed a growing desire to use local currencies for mutual trade. While the dollar’s position has faced substantial barriers, replacing the greenback may not be a realistic future. In a recent report, Goldman Sachs has shed more light on the dollar’s supposed decline. US Dollar Dominance Declining, But Will Reign Supreme Source: Cloudfront According to Gurpreet Garewal, macro strategist at Goldman Sachs, US stocks have recovered from the tariff dip. US stocks not just reclaimed, but have gone higher than pre-tariff prices. The US dollar, on the other hand, does not follow the same pattern. Garewal highlights the growing sentiment that the dollar may be overvalued at the moment. The strategist believes this narrative is overstated. Garewal states, “ The do...

With both the BRICS economic alliance and the US engaged in a standoff, Goldman Sachs has warned that the geopolitical tension could send oil prices skyrocketing. Indeed, the presence of sanctions and de-dollarization efforts could erupt into greater economic difficulty on a global scale. US President-elect Donald Trump has not minced words regarding his feelings toward the BRICS bloc. He warned the alliance of incoming tariffs in retaliation for its efforts to abandon the US dollar as the world’s currency. Now, the bloc is facing the ongoing warning as it looks to continue navigating the presence of sanctions. Source: BBC Also Read: BRICS Fail to Challenge US Dollar in 2024: Can They This Year? Goldman Sachs Warns BRICS & US Geopolitical Tensions May Affect Oil Prices The past two years have seen the BRICS economic alliance target increased use of the US dollar. Specifically, they have called on the global south to initiate a continued effort to promote the use of local currencie...