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The U.S. dollar has outperformed all the 11 BRICS currencies in the last 3 months in the forex markets. BRICS is looking to dethrone the U.S. dollar as the world’s reserve currency by putting their local currencies forward for trade. Despite initiating multiple efforts to take on the U.S. dollar, BRICS currencies are ending at a low against the USD. The U.S. dollar not only outperformed BRICS currencies, but also surpassed gold, oil, and other commodities in the international markets. Also Read: Iraq Ready To Join BRICS After Banning Cash Withdrawals in US Dollar U.S. Dollar Surpasses All 11 BRICS Currencies in 3 Months Source: thuancapital.com The U.S. dollar reigned supreme as it surpassed all the 11 BRICS currencies in the last three months. The BRICS currencies ended at new lows against the USD despite the bloc attempting to contain the dollar’s growth. The development highlights the power of the USD against the other local currencies in the foreign exchange marke...

Bitcoin would be a more popular safe haven than the U.S. dollar, the Japanese yen or the Swiss franc, according to a new survey. Major cryptocurrency Bitcoin (BTC) could become a top-three asset in the event of a theoretical debt default in the United States, according to a new survey. As U.S. President Joe Biden prepares to meet with Congress on May 16 to discuss the U.S. debt ceiling, investors are seeking hedges to protect their savings in the event of default. Gold, U.S. Treasury Bonds and Bitcoin would be the top three asset s, should the U.S. fail to raise its debt ceiling and default on its debt, data from Bloomberg's latest Markets Live Pulse survey suggests. The survey was conducted from May 8 to May 12, involving a total of 637 respondents including professional and retail investors. More than 50% of finance professionals would buy gold in case the U.S. government fails to avoid a debt default. U.S. Treasury Bonds would be the second-most popular asset in such a scenari...