West Loop Financial LLCWhat Happens If The Dollar Loses Its Status As Reserve Currency? – West Loop Financial LLC https://www.westloopfinancial.com Evolutionize Site Wed, 19 Aug 2020 20:50:49 +0000 en-US hourly 1 https://wordpress.org/?v=5.1.22 What Happens If The Dollar Loses Its Status As Reserve Currency? https://www.westloopfinancial.com/2014/04/08/what-happens-if-the-dollar-loses-its-status-as-reserve-currency/ https://www.westloopfinancial.com/2014/04/08/what-happens-if-the-dollar-loses-its-status-as-reserve-currency/#respond Tue, 08 Apr 2014 16:34:30 +0000 http://evolvemypractice.com/?p=783 Earlier this month, the People’s Bank of China announced that it would double the allowable trading range for the yuan against the dollar to 2 percent from a midpoint rate it sets every day. This move provides evidence that the government is moving toward a more market-driven economy. I’ve noted that there’s a direct correlation between announcements...

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]]> Earlier this month, the People’s Bank of China announced that it would double the allowable trading range for the yuan against the dollar to 2 percent from a midpoint rate it sets every day. This move provides evidence that the government is moving toward a more market-driven economy.

I’ve noted that there’s a direct correlation between announcements that China continues to send signals that it’s revamping its financial sector, loosening its grip on the its currency, the yuan, and calls/emails I get from investors worried about what will happen if the dollar loses its status as the world’s reserve currency.

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