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2024-01-06 20:46:34

NBS on Nostr: Keep seeing this headline floating around as if it's a big deal: "BRICS: Morgan ...

Keep seeing this headline floating around as if it's a big deal:

"BRICS: Morgan Stanley Downgrades The U.S. Dollar"

Morgan Stanley is downgrading the dollar because the Fed will soon lower rates. Currencies are assets which yield a return based on their respective central bank. When US rates are high, dollar yield is high, therefore it's more attractive to hold. When rates go back down, dollars become less attractive.

It's not based on BRICS whatsoever.

https://watcher.guru/news/brics-morgan-stanley-downgrades-the-u-s-dollar
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