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UBS On-Air: Paul Donovan Daily Audio 'The importance of being the dollar'
Published 1 year, 1 month ago
Description
US President-elect Trump has threatened to tax US consumers aggressively via tariffs, if countries “replace” the dollar. It is not clear what “replacing” means. The US dollar is only one international invoicing currency among many. Over half of Eurozone exports are invoiced in euros, for instance. Invoicing status is of limited importance.