Expectations for Chinese currency appreciation against the dollar will soon return to its highest level since early 2023, says Citi

Chinese traders have lost interest in the dollar. What does this mean for the yuan exchange rate?

The ICE Dollar Index ended the first half of 2025 with its worst performance since its launch in 1973


Dollar is behaving like a "risky" currency, Goldman believes. Is it no longer a "safe haven"?

The dollar has not experienced such a long period of <a href="https://www.marketwatch.com/story/the-dollar-is-having-its-worst-year-since-nixon-three-reasons-it-will-get-even-weaker-fc3c7a20?mod=mw_pushly&amp;send_date=20250708">decline</a> since the abolition of the Bretton Woods system. It has weakened against major currencies since the start of the year, with the devaluation against the euro currently at 12%; at the peak it was 14%. The policies of US President Donald Trump - imposing trade duties, growing budget deficits and attacks on the head of the Federal Reserve System - have led to the debate about finding an alternative to the dollar as the world's reserve currency resumed with renewed vigor. But what should an investor choose? Manager Alexey Tretyakov compares the dollar and potential alternative currencies by criteria: yield, risks and liquidity.

In which currency should a global investor keep funds? A breakdown of alternatives to the dollar


A weaker currency makes U.S. exports more competitive, which is good for stocks

"Once a trend starts, it's hard to stop": what to expect from the dollar after the recession

Tesla, Inc.

Microsoft Corporation

Alphabet Inc.

The first half of the year on the world financial markets broke the expectations of the overwhelming majority of its participants. The bets on the strengthening of the dollar and "American exceptionalism", which provided a large-scale inflow of money into US assets, did not work. Donald Trump has turned from a politician, who was expected to support business and the economy, into a figure who unleashed a trade war and questioned the hegemony of the dollar. The European stock market <a href="https://oninvest.com/article/iz-maga-v-mega-kak-tramp-delaet-evropu-snova-velikoj">played</a> the role of Cinderella: the battered, unloved stepdaughter turned out to be a beautiful princess. And above it all, gold shone brightly.

The half-year of records and falls in the markets is over. What is next for investors?

U.S. stock futures, the dollar, and partner country stock indexes reacted by falling

Trump is ready to send out the first tariff notices. The range of duties is from 10% to 70%

By the end of Donald Trump's presidential term, gold could be worth as much as $6,000

Gold has not updated the record since April. What can raise prices to $4 thousand per ounce?

The first half of 2025 was the worst for the dollar since the end of the Bretton Woods system

Central banks saw no threat to the dollar's dominance. What will happen to its exchange rate in the future?

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.

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

ING currency strategist calls US currency a "scapegoat for Trump's unpredictable policies"

The dollar posted its biggest drop in the first half of the year since 1973. What's weighing on it?

JPMorgan Chase & Co.

Morgan Stanley

The current year has changed the priorities of investors on Wall Street - from the dollar to the euro, from U.S. equities to eurozone and emerging market securities

Currencies, stocks, debt securities: what traders lost and what they won in 2025

ING, the Netherlands' largest bank, has warned of the risks of a euro slowdown and urged clients to be cautious

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