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JPMorgan Warns of Accelerating De-Dollarization Impact on Global Markets
JPMorgan Warns of Accelerating De-Dollarization Impact on Global Markets
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JPMorgan's latest research reveals BRICS nations are driving structural shifts in global finance faster than anticipated. The bank's analysts observe tangible erosion of dollar dominance in commodity markets, with Russian oil increasingly settled in local currencies and Indian firms bypassing USD for Russian imports.
"We're witnessing the emergence of parallel financial ecosystems," says Luis Oganes, JPMorgan's Global Macro Research head. Energy markets show the most acute changes, challenging decades-old pricing mechanisms. Natasha Kaneva's commodities team notes these developments carry implications for cryptocurrency markets as alternative settlement layers.
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