A BRICS Common Currency? That’s A Fairy Tale

A BRICS common currency to replace the dollar as the world’s reserve currency…that’s a fairy tale; the idea of these countries uniting their fiscal budgets, monetary policies and debt levels to enable a currency union is not based in reality, notes Jeffrey Kleintop. He discusses what BRICS expansion means for the dollar (/DX), as well as the outlook for the dollar as the world’s reserve currency. He also talks about how China’s economic issues are impacting global markets. He looks at how U.S. import market share changed for the top 15 importing countries from 2017-2022. He then goes over what’s next after Jackson Hole. Tune in to find out more about the stock market today.