Dollar's slide weighs on status as world reserve currency

The dollar’s dominance endows the U.S. with many benefits, ranging from an outsized influence over the world’s financial system to giving it the power to flex its muscle abroad by punishing rivals and bringing errant foreign players to heel.

NEW YORK: Some investors are worried the U.S. response to the Covid-19 coronavirus pandemic is dealing a body blow to the dollar, potentially accelerating what has so far been a slow erosion in the greenback's status as the world's dominant reserve currency.

Investors and analysts, including billionaire hedge fund manager Ray Dalio and Goldman Sachs Group strategists, are among those who have warned that massive U.S. government spending in recent months could hurt the dollar.