Goldman Sachs Analyst Forecasts Prolonged Weakness for US Dollar as BRICS Challenges Reserve Status

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2025-04-25 14:12:02

The US dollar faces sustained headwinds as BRICS nations actively work to undermine its global reserve currency dominance. Goldman Sachs’ Kamakshya Trivedi, Head of Global FX, observes a fundamental shift in geopolitical dynamics, with emerging economies prioritizing local currency frameworks. The DXY index’s 9% year-to-date decline reflects this trend, plunging from 109.40 to 98.06.

Eight of nine major currencies have outperformed the greenback in 2025, signaling structural rather than cyclical weakness. This erosion of dollar hegemony creates fertile ground for cryptocurrency adoption as nations and investors seek alternative stores of value beyond traditional fiat systems.

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