Euro tops dollar as payment currency for first time since 2013

Bloomberg/Alexandre Tanzi

Repost from 11-23-2020

“Trade upheaval, a pandemic-induced recession and political disharmony renewed pressure to reduce the share of international payments in dollars. The U.S. currency has weakened more than 11% from its March peak, based on a Bloomberg index that measures it against a basket of major peers, and many observers are predicting its valuation to drop further.”

USAGOLD note:  One month does not a trend make and we would have to see a trend develop before we would think that something of real importance was actually occurring. Nevertheless, we thought the “event” worth noting and filing for future reference.