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Euro's bid to challenge King Dollar collides with political risk

Section: Daily Dispatches

By Anooja Debnath, Charlotte Ryan, and Katherine Greifeld
Bloomberg News
Thursday, November 1, 2018

Europe's dream of turning the euro into a global reserve currency that can rival the dollar is proving more elusive than ever.

A rally today notwithstanding, the euro is trading within striking distance of its low this year as a confluence of political risks looming large over Europe damp sentiment toward the common currency. ...

... Dispatch continues below ...


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The flare-up of political risk across a landscape that shares the euro as its common currency shows European Commission President Jean Claude Juncker has his work cut out before realizing his vision of upending the global dominance of the dollar.

The euro has lost almost a fourth of its value since before the euro-area debt crisis erupted in 2011, suggesting that central banks aren’t quite embracing Juncker’s dream just yet. ...

... For the remainder of the report:

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