The US dollar’s hegemony is looking fragile - short news
The modernisation of China’s exchange-rate system could deal the currency a painful blow
The mighty US dollar continues to reign supreme in global markets. But the greenback’s dominance may well be more fragile than it appears, because expected future changes in China’s exchange-rate regime are likely to trigger a significant shift in the international monetary order.
For many reasons, the Chinese authorities will probably someday stop pegging the renminbi to a basket..
source: The Guardian - 02.04.2021