Reverse Currency War News Today

"De-dollarization is not a voluntary choice by countries anymore," Iran's first vice president said on Tuesday.

Efforts to challenge the US dollar have mostly gone nowhere, experts say, and plans for alternate reserve currencies haven't panned out.

The yen rose after the Bank of Japan unexpectedly adjusted controls on 10-year government bond yields, which could let long-term interest rates rise.

"The dollar could rise again" in 2023 if energy prices keep rising and investors flock back to the safe haven, one strategist told Insider.

Japan has been offloading its dollars and buying the yen in a bid to stabilize the struggling currency, which has tumbled 27% against the greenback this year.

"The Fed looks set to deliver a series of rate hikes that other central banks will increasingly struggle to match," Goldman Sachs' strategists said.

"Lower global growth will likely create a modest drag on US inflation, mostly because lower foreign demand leads to softer import and oil prices."

"We're monitoring currency movements and their impacts very closely," US Treasury Secretary Janet Yellen told the Financial Times.

Countries around the world are battling to defend their currencies against the surging greenback.

The Fed has set a blazing pace of rate hikes that policymakers around the world are trying to keep pace with.