BRICS: Asia Could Dump $2.5 Trillion Worth of US Dollar Currency
The US dollar may face a huge crisis from BRICS and other Asian currencies, as Stephen Jen, CEO of Eurizon SLJ Capital, revealed to Bloomberg that an “avalanche” of selling the USD worth $2.5 trillion could come from Asian countries. He revealed that Asian exporters and investors have stockpiled a large sum of USD over the years that could soon be dumped as the greenback is weakening against local currencies in 2025. The Bloomberg currency index shows that the USD is down 8% since February, while local currencies are outperforming the reserve currency. This gives the BRICS alliance more power to initiate the de-dollarization agenda as $2.5 trillion worth of US dollar hangs on a thread. “We suspect these dollar hoardings by Asian exporters and institutional investors may be extremely large. Possibly on the order of $2.5 trillion or so. And pose sharp downside risks to the dollar vis-à-vis these Asian currencies,” Jen and Joana Freire wrote. BRICS: US Dollar Faces a Threat of $2.5 Tril...
