ECB’s Lagarde Sees Opening for Euro to Challenge Dollar Dominance
European Central Bank President Christine Lagarde sees an opportunity for the euro to play a bigger role in global finance as confidence in the U.S. dollar wavers.
Currently, the dollar dominates as the world’s reserve currency with 60% of global foreign exchange reserves, while the euro holds just 20%.
With the dollar index falling over 8% this year amid Trump’s tariff policies and shifting geopolitics, Lagarde believes Europe could strengthen the euro’s position by maintaining open trade, developing deeper capital markets, and defending the rule of law.
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