Many exporters no longer want dollars, US bank executive says

[IM2]

The title speaks for itself. The dollar is losing right now, and it's only because of who we have as president.

Many exporters no longer want dollars, US bank executive says​

When Paula Comings, the head of currency sales for US Bancorp, talks to US importers, she increasingly hears the same message: Their foreign counterparties no longer want to be paid in dollars.

Instead, they ask for settlement in euros, Chinese renminbi, the Mexican peso and the Canadian dollar, looking to limit their exposure to further swings in the greenback.

“A lot of clients previously were reluctant because dollars were sacred in the eyes of the supplier,” Comings said. “Now the vibe from overseas vendors seems to be, ‘Just give us our currency.’”

While the dollar saw a brief boost amid the turmoil in the Middle East, the currency is still about 8% lower this year against a basket of other currencies. That followed a steep gain of 7% in the final quarter of 2024, according to a Bloomberg index. This volatility, which complicates pricing decisions and poses earnings risks, increasingly means the dollar is falling out of favour.

MSN

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[Manonthestreet]

The title speaks for itself. The dollar is losing right now, and it's only because of who we have as president.

Many exporters no longer want dollars, US bank executive says​

When Paula Comings, the head of currency sales for US Bancorp, talks to US importers, she increasingly hears the same message: Their foreign counterparties no longer want to be paid in dollars.

Instead, they ask for settlement in euros, Chinese renminbi, the Mexican peso and the Canadian dollar, looking to limit their exposure to further swings in the greenback.

“A lot of clients previously were reluctant because dollars were sacred in the eyes of the supplier,” Comings said. “Now the vibe from overseas vendors seems to be, ‘Just give us our currency.’”

While the dollar saw a brief boost amid the turmoil in the Middle East, the currency is still about 8% lower this year against a basket of other currencies. That followed a steep gain of 7% in the final quarter of 2024, according to a Bloomberg index. This volatility, which complicates pricing decisions and poses earnings risks, increasingly means the dollar is falling out of favour.

MSN

www.msn.com

Sounds like a bad move as all of those currencies are more worthless than ours

 

[0311]

The title speaks for itself. The dollar is losing right now, and it's only because of who we have as president.

Many exporters no longer want dollars, US bank executive says​

When Paula Comings, the head of currency sales for US Bancorp, talks to US importers, she increasingly hears the same message: Their foreign counterparties no longer want to be paid in dollars.

Instead, they ask for settlement in euros, Chinese renminbi, the Mexican peso and the Canadian dollar, looking to limit their exposure to further swings in the greenback.

“A lot of clients previously were reluctant because dollars were sacred in the eyes of the supplier,” Comings said. “Now the vibe from overseas vendors seems to be, ‘Just give us our currency.’”

While the dollar saw a brief boost amid the turmoil in the Middle East, the currency is still about 8% lower this year against a basket of other currencies. That followed a steep gain of 7% in the final quarter of 2024, according to a Bloomberg index. This volatility, which complicates pricing decisions and poses earnings risks, increasingly means the dollar is falling out of favour.

MSN

www.msn.com

This is hardly surprising at all. Weakening the U.S. Dollar will have strong effect on our economy will lead to recession. Not that 47 minds, he only cares for himself.

 

[pknopp]

Ill note I've been noting this was going to happen for quite awhile. The argument against was that there was nothing to replace it. Seems people are figuring it out.

 

[IM2]

This is hardly surprising at all. Weakening the U.S. Dollar will have strong effect on our economy will lead to recession. Not that 47 minds, he only cares for himself.

Yep.. We who didn't vote for him are going to have to suffer for the morons who did. This is going to be a severe lesson.

 

[IM2]

Sounds like a bad move as all of those currencies are more worthless than ours

I think you need to leave the American exceptionalism delusion.

 

[Rambunctious]

The title speaks for itself. The dollar is losing right now, and it's only because of who we have as president.

Many exporters no longer want dollars, US bank executive says​

When Paula Comings, the head of currency sales for US Bancorp, talks to US importers, she increasingly hears the same message: Their foreign counterparties no longer want to be paid in dollars.

Instead, they ask for settlement in euros, Chinese renminbi, the Mexican peso and the Canadian dollar, looking to limit their exposure to further swings in the greenback.

“A lot of clients previously were reluctant because dollars were sacred in the eyes of the supplier,” Comings said. “Now the vibe from overseas vendors seems to be, ‘Just give us our currency.’”

While the dollar saw a brief boost amid the turmoil in the Middle East, the currency is still about 8% lower this year against a basket of other currencies. That followed a steep gain of 7% in the final quarter of 2024, according to a Bloomberg index. This volatility, which complicates pricing decisions and poses earnings risks, increasingly means the dollar is falling out of favour.

MSN

www.msn.com

After Biden crushed the value of the dollar I don't blame them...

 

[pknopp]

Yep.. We who didn't vote for him are going to have to suffer for the morons who did. This is going to be a severe lesson.

The driven to replace the dollar started long before Trump. He certainly has done nothing but push that drive even further but there is a ton of blame to go around.

 

[IM2]

The driven to replace the dollar started long before Trump. He certainly has done nothing but push that drive even further but there is a ton of blame to go around.

Maybe so, but it is happening now, and it is because of Trump. People have been quick to give trump passes, or make everything about everybody else but him. I'm not saying that's what you are doing, but U am saying that needs to stop.

 

[pknopp]

Maybe so, but it is happening now, and it is because of Trump. People have been quick to give trump passes, or make everything about everybody else but him. I'm not saying that's what you are doing, but U am saying that needs to stop.

Its not likely we will ever vote for anyone that will stop the slide.

 

[0311]

Yep.. We who didn't vote for him are going to have to suffer for the morons who did. This is going to be a severe lesson.

What 47 is going to due our economy will make the the economic disaster left the Shrub pale in comparison. HIs loyal cult members will deeply hurt, red states will suffer, just like before.

 

[JimH52]

The title speaks for itself. The dollar is losing right now, and it's only because of who we have as president.

Many exporters no longer want dollars, US bank executive says​

When Paula Comings, the head of currency sales for US Bancorp, talks to US importers, she increasingly hears the same message: Their foreign counterparties no longer want to be paid in dollars.

Instead, they ask for settlement in euros, Chinese renminbi, the Mexican peso and the Canadian dollar, looking to limit their exposure to further swings in the greenback.

“A lot of clients previously were reluctant because dollars were sacred in the eyes of the supplier,” Comings said. “Now the vibe from overseas vendors seems to be, ‘Just give us our currency.’”

While the dollar saw a brief boost amid the turmoil in the Middle East, the currency is still about 8% lower this year against a basket of other currencies. That followed a steep gain hat do you b expectevery eof 7% in the final quarter of 2024, according to a Bloomberg index. This volatility, which complicates pricing decisions and poses earnings risks, increasingly means the dollar is falling out of favour.

MSN

www.msn.com

This is scary. But when you have a leader who changes his mind every few minutes, what do you expect? The US can not be depended on anymore.

 

[0311]

I think you need to leave the American exceptionalism delusion.

That was so over hyped. Exceptionalism is an excuse for being asshole. MAGA may want to believe they are better, the color of their smakes special and believing in their so-called "God" gives them the right to judge other and ignore what their bible tells them inclusive love, acceptance, caring, and compassion. The Antisemites who claim to a 'Christian" ignore Yeshua (the actual of their name of their "Savior") was in fact a Jew. Exceptionalism is an excuse hate.