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According to a UBS report, the US dollar index (DXY) fell to a three-year low in June. The dip came amid rising uncertainty over US tariffs and economic policies. The DXY has fallen 10% in 2025 as of June 16. According to the UBS CIO, it may be time to reduce and hedge US dollar exposure before the currency falls further. The developments have further fuelled the de-dollarization sentiment. De-Dollarization Taking Further Hold Source: Watcher.Guru The dip in the US dollar’s dominance has put a serious question mark on the greenback. According to UBS, harsher-than-expected US tariffs have deteriorated “ investor perceptions of US exceptionalism. “ UBS also sees substantial challenges to the US dollar’s role as a “safe-haven.” To make matters worse, the bank does not see the dollar recovering anytime soon. The report states, “ We believe any near-term dollar bounce is unlikely to be sustained. “ The report further notes that previously, the ...

Troubled cryptocurrency exchange Zipmex has proposed its creditors nearly 30 cents per dollar of claims as part of its restructuring plan. Embattled crypto exchange Zipmex has offered its creditors 29.35 cents per dollar as the firm is seeking new options to stay afloat under the revised restructuring plan, Bloomberg has learned, citing sources familiar with the matter. According to the report, key creditors do not agree with the terms of the new proposal, demanding an independent audit of Zipmex’s balance sheet. Details of Zipmex’s latest repayment plan will be approved or denied through early Dec. 2023, sources say. Zipmex’s Group head Marcus Lim did not go into details, but told Bloomberg in a commentary that the sources have obtained inaccurate information. You might also like: Thai regulators want to know more about Zipmex accounts Earlier, crypto.news reported that Zipmex decided to suspend all digital asset trading activities in Thailand until Jan. 3...

In our latest Cointelegraph Report, we analyze the causes leading to the decline of the U.S. dollar as the world reserve currency and its potential implications. De- dollar ization, the decline of the United States dollar as the world’s dominant reserved currency, is underway, and it’s gaining momentum.  For over 100 years, the U.S. dollar has been the world reserve currency, which means it has been the dominant foreign currency held by central banks to carry out international transactions and settle international debt.  However, in the last 20 years, the dollar ’s dominance in countries’ reserves has decreased from 70% to under 60%, according to the International Monetary Fund. This trend has been accelerating since last year, when the U.S. and its allies froze Russia’s dollar reserve as a response of the country’s invasion of Ukraine. Since then, several countries have been looking for alternatives to the U.S. dollar . Some are discussing the creation of new currencies for intern...