J.P. Morgan: De-Dollarization Accelerates Global Currency Shift Through 2026 - Crypto’s Next Bull Catalyst

De-dollarization isn't just geopolitical theater—it's fueling the most significant monetary transformation since Bretton Woods. J.P. Morgan's latest analysis confirms what crypto maximalists have predicted for years: traditional reserve currencies face structural decline through 2026.

The Dollar's Diminishing Dominance

Central banks aren't just diversifying—they're actively building alternatives to USD hegemony. Gold reserves hit record levels while Bitcoin ETFs see institutional inflows that would make BlackRock blush. The old guard's response? Print more debt and hope nobody notices the emperor has no clothes.

Crypto's Structural Advantage

While fiat systems grapple with negative-yielding bonds and inflationary spirals, blockchain networks settle trillion-dollar value transfers without middlemen. DeFi protocols now offer better liquidity than some emerging market central banks—and with more transparent accounting.

The Institutional Pivot

J.P. Morgan's own blockchain division is quietly building the very infrastructure that could make their forex desk obsolete. Nothing says 'hedge your bets' like shorting your own business model.

2026 isn't a prediction—it's an expiration date for monetary systems that still think SWIFT is cutting-edge technology. The only thing declining faster than dollar dominance? TradFi's ability to pretend this isn't happening.

J.P. Morgan Forecasts Global Currency Drop Amid De-Dollarization Trends

The investment bank turned bearish on the J.P. Morgan US dollar for the first time in four years, and this global currency drop outlook extends through 2026. Multiple factors are converging to weaken dollar dominance in global currency today markets right now.

Meera Chandan, co-head of Global FX Strategy at J.P. Morgan, was clear about the fact that:

Policy Shifts Drive Global Currency Drop

The global currency drop stems from US economic moderation along with tariff impacts that create J.P. Morgan de-dollarization pressures. Broad-based tariffs actually amplify the J.P. Morgan USD downtrend, affecting what is the main global currency dynamics right now.

Chandan explained:

Currency Projections Show Continued Global Currency Drop

J.P. Morgan’s forecasts reveal sustained J.P. Morgan US dollar weakness across major pairs. EUR/USD is predicted to reach 1.19 in September 2025, and it’s climbing to 1.22 by March 2026. GBP/USD projections show the pound reaching 1.37 in September 2025, while USD/JPY weakens to 139 by June 2026.

The global currency today scenario reflects structural changes beyond typical market cycles, as J.P. Morgan USD analysis shows fiscal dynamics along with policy uncertainty creating headwinds.

De-Dollarization Reshapes Reserve Currency System

The current de-dollarization vision by J.P. Morgan is a reflection of the radical changes that came about as to which currency is the main currency discourse on a global scale. The global commodity playing field is changing as central banks all over the world are diversifying their reserves out of dollar assets speeding the trend of global currency decline that is posing an increasing challenge to decades of dollar dominance at the present moment.

Chandan noted:

Such trends indicate that the era of unquestioned dollar supremacy is coming to an end, which is likely to affect not only international trade but also investment flows in the background of a multi-polar and multi-currency world where different currencies serve the role of international reserves.