SWIFT data indicate the US dollar accounted for a record 51.1% of international transactions in March, up from 49.2% in February and the highest level since 2023. The euro was around 21%, with sterling and yen behind, and the dollar's rise aligned with tensions in the Middle East.
SWIFT data show the US dollar share of international transactions rose to 51.1% in March from 49.2% in February, a peak since 2023, with the euro around 21% and sterling and yen trailing.
Hassett says the Fed could cut rates while shrinking its balance sheet.
Gate News, April 22, quotes Hassett, director of the White House National Economic Council, who envisions the Federal Reserve cutting interest rates while reducing its balance sheet.