A post-dollar world is coming

Sunday - 28/08/2022 22:17 Author: Editors Desk Source: Nicki Swift
The currency may look strong but its weaknesses are mounting
Since the 1970s, the typical upswing in a dollar cycle has lasted about seven years; the current upswing is in its 11th year © Luis Robayo/AFP/Getty Images
Since the 1970s, the typical upswing in a dollar cycle has lasted about seven years; the current upswing is in its 11th year © Luis Robayo/AFP/Getty Images

The writer is chair of Rockefeller International

This month, as the dollar surged to levels last seen nearly 20 years ago, analysts invoked the old Tina (there is no alternative) argument to predict more gains ahead for the mighty greenback.

What happened two decades ago suggests the dollar is closer to peaking than rallying further. Even as US stocks fell in the dotcom bust, the dollar continued rising, before entering a decline that started in 2002 and lasted six years. A similar turning point may be near. And this time, the US currency’s decline could last even longer.

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 Keywords: United States

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