ECB’s Nagel Says Doubts on Dollar’s Haven Status Have Risen

The US dollar’s traditional role as the currency of choice in times of uncertainty is increasingly in question, leading to a weak currency, according to European Central Bank Governing Council member Joachim Nagel.

“Doubts regarding the safe-haven status of the US dollar have risen,” he said on Sunday. “For the time being, the dollar weakness is set to remain, as international investors’ loss in confidence could well persist.”