This year, US foreign policy changed course dramatically: instead of promises of "peace", US President Donald Trump started talking about taking over Greenland and threatening Europe with a new trade war. The dollar reacted to these threats, but weakly. Investors did not believe in the fulfillment of threats. But they should not relax, warns financier and member of the ACI Foreign Exchange Committee Sergey Romanchuk.

The dollar "survived" the Greenland scandal. But there are more risks for it

Next week, the European Council will revisit discussions on how it should use frozen Russian assets to support Ukraine. The topic jeopardizes confidence in the euro, economists warn. But Sergey Romanchuk, a financier and member of ACI's Foreign Exchange Committee, believes that the market is not taking this threat seriously yet. There are four reasons for this.

Protecting the euro: what happens if the EU uses frozen Russian assets

The euro <a href="https://www.bloomberg.com/news/articles/2025-07-01/ecb-s-guindos-says-euro-gain-beyond-1-20-would-be-complicated?srnd=homepage-europe">rose</a> nearly 14% against the dollar this year, largely due to the policies of President Donald Trump's administration. The U.S. president's actions have caused investors to question the irreplaceability and steadfastness of the U.S. currency. Sergey Romanchuk, a financier and member of ACI's Foreign Exchange Committee, discusses whether the euro will be able to displace the dollar on the pedestal of reserve currency No. 1.

Sergey Romanchuk

Articles: 3

The dollar "survived" the Greenland scandal. But there are more risks for it

Protecting the euro: what happens if the EU uses frozen Russian assets

A historic moment for the euro: can it displace the dollar?