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U.S. dollar's haven status under threat, fund managers warn
By Olaf Storbeck, Kate Duguid, and Sam Fleming
Financial Times, London
Saturday, April 12, 2025
The U.S. dollar's status as a haven for global capital is under threat from erratic policymaking and rising trade barriers, fund managers have warned.
On Friday the currency fell to a three-year low against the euro, extending a slide that started last week after President Donald Trump announced steep "reciprocal" tariffs on U.S. trading partners.
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The moves triggered alarm among investors, who warned of a "tectonic shift" for the global economy if the dollar could no longer be relied upon to provide a refuge during periods of market volatility.
"There is [now] a very good case for the end of American dollar exceptionalism," said Bob Michele, chief investment officer of JPMorgan Asset Management, with $3.6 trillion under management. ...
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https://www.ft.com/content/0a3e8e7f-0298-4a2c-a6d5-327c83bc8f60
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