An employee shows Croatian kuna and euro banknotes at a currency exchange office in Dubrovnik, Croatia, on July 23. The euro is under increasing pressure on multiple fronts. Photo: Bloomberg
An employee shows Croatian kuna and euro banknotes at a currency exchange office in Dubrovnik, Croatia, on July 23. The euro is under increasing pressure on multiple fronts. Photo: Bloomberg
David Brown
Opinion

Opinion

Macroscope by David Brown

Euro is no safe haven as China seeks to reduce its dependence on US dollar

  • The euro has touched parity with the US dollar, and pressures such as the war in Ukraine, global energy crisis and credit woes could further dent sentiment
  • China appears to have few other good options as it seeks to allocate its massive forex holdings

An employee shows Croatian kuna and euro banknotes at a currency exchange office in Dubrovnik, Croatia, on July 23. The euro is under increasing pressure on multiple fronts. Photo: Bloomberg
An employee shows Croatian kuna and euro banknotes at a currency exchange office in Dubrovnik, Croatia, on July 23. The euro is under increasing pressure on multiple fronts. Photo: Bloomberg
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