Dollar dominance is reinforced by the global oil trade, but the Iran war could give rise to the ‘petroyuan’ as the U.S. security shield weakens
via fortune.com
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Middle East oil has long been a linchpin of the U.S. dollar’s status as the dominant currency in global trade and reserves, but President Donald Trump’s war on Iran could open the door to China’s currency, according to Deutsche Bank. In a note on Tuesday, analysts pointed out that the current “petrodollar” regime goes back […]