Reported about 10 hours ago
A recent measure of demand in the $7.5 trillion foreign-exchange market indicates a reduced appetite for the US dollar compared to other currencies, such as the euro and yen, even during times of market instability. Analysts from major banks, including Morgan Stanley and Goldman Sachs, note that cross-currency basis swaps reveal decreasing preference for dollar-denominated assets. This shift raises concerns about the dollar's status as a safe haven and suggests potential future borrowing costs may increase for the euro compared to the greenback, aligning with a broader trend of capital flow from the US to Europe.
Source: YAHOO