S&P Global’s top economist sees dollar dominance diminishing

LONDON, July 11 (Reuters) – The dollar’s grip as the dominant global currency is loosening, credit rating agency S&P Global’s top economist said on Tuesday. Aggressive U.S. sanctions such as last year’s freezing of hundreds of billions of dollar’s worth of Russia’s reserves has seen a flurry of countries start to do some trade in currencies other than dollar as well as repatriate gold reserves. The dollar “doesn’t have quite the pull it used to,” Paul Gruenwald, S&P’s chief economist, said at a conference hosted by the ratings firm in London. “There’s a fragmentation around the edges”. Gruenwald pointed to…