Macquarie: The dollar is unlikely to fully reverse its recent decline

Macquarie strategist Thierry Witzmann said in a report that even if the Trump administration cancels all tariffs, the dollar is unlikely to fully reverse its recent losses. He said: "After all, in addition to capital flight, given the declining integrity of some US institutions and systems, it is necessary to reduce dependence on the US dollar. The dollar will become less of an indispensable currency and more of a substitute for a few comparable currencies such as the euro."