The dollar’s dominance as a reserve currency eroded last year at 10 times the pace seen in the past 2 decades

dollar SOPA images The US dollar’s reserve currency status has seen gradual erosion for two decades, Eurizon strategists said. But last year, the pace of erosion was 10 times faster amid currency sanctions against Russia. The dollar’s dominant role in international trade is unlikely to be challenged soon, Eurizon said. The dollar’s standing as a reserve currency of choice saw a steep decline in 2022 even though its strength in international trade remains unchallenged, according to Eurizon SLJ Asset Management. In a Monday note, strategists Joana Freire and Stephen Jen calculated that the greenback accounted for about two-thirds of total…