Economic superpowers are stepping up their efforts to break free from US dollar hegemony, raising the possibility of the emergence of a new global order. Jim O’Neill, a former chief economist at Goldman Sachs, urged the BRICS bloc to grow and challenge the dollar’s hegemony this week. He stated that
DXY hit the 114.5 level and touched 2003 high. Sterling recorded an all-time low of $1.0387. The U.S. dollar currency index (DXY) overcame significant opposition to reach its highest level since July 2002. As sterling fell to a record all-time low, the dollar index kept surging and flipped the RSI
A general assumption that an increase in the US Dollar impacts Bitcoin’s fall. The influencers and analysts have examined the inverse correlation. Huobi has temporarily halted futures trading for Chinese users. According to the report, the analysts and influencers have been examining the demographics of the US Dollar and Bitcoin
