A woman counts US dollar bills in Buenos Aires, Argentina, on August 28, 2018. Massive stimulus to fend off the effects of the pandemic, political uncertainty and other factors have eroded confidence in the US currency in recent weeks. Photo: Reuters A woman counts US dollar bills in Buenos Aires, Argentina, on August 28, 2018. Massive stimulus to fend off the effects of the pandemic, political uncertainty and other factors have eroded confidence in the US currency in recent weeks. Photo: Reuters
A woman counts US dollar bills in Buenos Aires, Argentina, on August 28, 2018. Massive stimulus to fend off the effects of the pandemic, political uncertainty and other factors have eroded confidence in the US currency in recent weeks. Photo: Reuters
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

How coronavirus stimulus and China tensions are battering the US dollar’s global dominance

  • The pandemic has unleashed forces that are undermining sentiment towards the United States, dealing a severe blow to American ‘exceptionalism’ in markets
  • Earlier predictions of the dollar’s demise as the world’s reserve currency were off the mark, though, and the S&P 500’s strength indicates lingering resilience

A woman counts US dollar bills in Buenos Aires, Argentina, on August 28, 2018. Massive stimulus to fend off the effects of the pandemic, political uncertainty and other factors have eroded confidence in the US currency in recent weeks. Photo: Reuters A woman counts US dollar bills in Buenos Aires, Argentina, on August 28, 2018. Massive stimulus to fend off the effects of the pandemic, political uncertainty and other factors have eroded confidence in the US currency in recent weeks. Photo: Reuters
A woman counts US dollar bills in Buenos Aires, Argentina, on August 28, 2018. Massive stimulus to fend off the effects of the pandemic, political uncertainty and other factors have eroded confidence in the US currency in recent weeks. Photo: Reuters
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Nicholas Spiro

Nicholas Spiro

Nicholas Spiro is a partner at Lauressa Advisory, a specialist London-based real estate and macroeconomic advisory firm. He is an expert on advanced and emerging economies and a regular commentator on financial and macro-political developments.