美元外汇储备占比降至30年来最低 欧央行行长呼吁把握时机提升欧元地位｜全球金融观察

Core Insights - The dominance of the US dollar is facing uncertainty due to geopolitical factors, with its share in global foreign exchange reserves at approximately 58%, the lowest since 1994, while the euro accounts for about 20% [1][2] - European Central Bank President Christine Lagarde emphasizes the need to strengthen the euro's international standing by enhancing geopolitical, economic, and legal foundations [1] - The euro has appreciated significantly against the dollar, rising over 9.5% since the beginning of the year, reaching its highest level since December 2021 [1] Group 1: Euro's Position and Challenges - Lagarde's call to enhance the euro's international status aims to promote trade denominated in euros, reducing Europe's vulnerability to unstable capital flows [2] - Despite the euro's recent strength, challenges remain, including lower European external debt issuance compared to the US and lower returns on euro-denominated assets, which hinder the euro's liquidity and market demand [3] - The potential for the euro to replace the dollar as a reserve currency is deemed unrealistic in the short term, as the US economy's fundamentals still outperform those of Europe [4] Group 2: Market Reactions and Future Outlook - The recent rebound in the US dollar index is attributed to a significant increase in the US consumer confidence index, which rose to 98 in May, marking the largest monthly increase in four years [5] - Analysts express caution regarding the dollar's future, noting ongoing concerns about US economic growth and budget deficits, which may limit the dollar's upward momentum [6] - Non-sovereign currencies, such as stablecoins and commodities like gold, are expected to play a more significant role in the future financial landscape, as they are less tied to a single country's fiscal policies [7]