Bigger BRICS Renews Dollar Demise Talk, But In Vain: FX Moment
In our latest FX Moment podcast, host Audrey Childe-Freeman, Bloomberg Intelligence chief G-10 FX strategist, and Stephen Chiu, BI chief Asia FX and rates strategist, look into how the recently announced plan for a larger BRICS has rekindled the de-dollarisation theme. Audrey and her colleague address the highly relevant economics and politics behind the BRICS extension and look into how this may impact de-dollarisation. In practice, expect limited impact for decades to come, with the dollar unchallenged on the International Monetary System (for now), and the euro arguably more of a challenger than the yuan in the near term.