Difficult to usurp dollar’s dominance

While Goldman Sachs Group Inc and Credit Suisse Group AG have flagged threats to the dollar’s supremacy, finding a valid replacement is going to be extremely challenging, according to funds from Brandywine Global Investment Management to JPMorgan Asset Management.

NEW YORK: Dethroning the dollar is easier said than done.

That’s the conclusion of investors after Washington’s freeze of Russia’s dollar holdings created fresh impetus among central bankers to rethink the security of access to foreign-exchange reserves. The move fuelled speculation that countries such as China could redouble efforts to unshackle itself from greenback-denominated financial systems and look for alternatives.