In this report, from London on Tuesday, July 23rd, 2019 I look at a recent research piece issued by JP Morgan Private Bank to its client's about the U.S. dollars status as the world's reserve currency.
JP Morgan notes that the resurgence of China as a world economic superpower and the persistent fiscal and trade deficits run by the United States will mean that the dollar will lose its reserve status in the medium term. The U.S. bank advises its clients to diversify their FX exposure away from the dollar into gold and other G-10 fiat currencies.
To me and my viewers and followers, the surprise from this JP Morgan research is not that the dollar's days as Top Dog are numbered but that this admission came from the biggest U.S. bank.
"JPMorgan: We Believe The Dollar Could Lose Its Status As World's Reserve Currency": https://www.zerohedge.com/news/2019-07-23/jpmorgan-we-believe-dollar-could-lose-its-status-worlds-reserve-currency
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