Threat to Dollar’s Global Supremacy Revived by EU Stimulus Deal
- Euro would gain popularity should break-up risks ease: Mizuho
- Common currency is near strongest level since early 2019
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The dollar is facing renewed questions about its status as the globe’s primary reserve currency.
The greenback accounts for more than 60% of global reserves and is the most widely used currency for international transactions. But it risks ceding ground to the euro after European Union leaders agreed on a 750 billion euro ($860 billion) stimulus package that enhances the appeal of the shared currency and euro-denominated assets, analysts from Credit Agricole and Mizuho International Plc said.