Mark Gilbert , Columnist

Behind the Dollar's Drubbing Is a Catalog of Excuses

The yuan may have new friends, but the greenback's still the bedrock of the global economy.

January 15, 2018 at 12:14 PM UTC

Mark Gilbert is a Bloomberg Opinion columnist covering asset management. A former London bureau chief for Bloomberg News, he is author of “Complicit: How Greed and Collusion Made the Credit Crisis Unstoppable.”

1516019301_GettyImages-120814970 — Photographer: Tom Stoddart/Getty Images

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A Google search for the phrase "death of the dollar" produces about 168 million results in less than half a second, including articles, YouTube videos and books all predicting the demise of the U.S. currency. The greenback seems to have few friends.

After slumping against every major currency apart from the Brazilian Real last year, the dollar has started the first two trading weeks of 2018 by taking a renewed beating on the foreign exchange market.