JPMorgan's Marko Kolanovic Says Dollar Hegemony Is Now at Risk
- Trump antics increase disdain for U.S.-driven financial order
- Hedge secular risk with gold, assets outside American borders
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A backlash against the world’s reserve currency may be brewing as rivals to America look to weaken the dollar’s hold over the global financial system, says Marko Kolanovic, macro-market wiz at JPMorgan Chase & Co.
President Donald’s Trump’s isolationist foreign policy is a “catalyst for long-term de-dollarization” among countries from Europe and Asia to the Middle East that have long lamented the hegemony of the U.S. currency, he wrote in a note co-authored with Bram Kaplan.