December Market Insights: 2026 and the King Dollar Revival
Rumours of the U.S. dollar’s decline are as persistent as they are exaggerated. In 2025, one fact stands out: The global U.S. dollar system—“King Dollar”[1]—is not vanishing. The financial, legal, and institutional architecture that makes the dollar the world’s indispensable currency remains at the heart of global finance. It is this systemic centrality, not its day-to-day market price, that ensures “King Dollar” matters most, and it is being strategically reinforced and recalibrated for a multipolar era. After the energetic “weaponization” of the dollar under the Biden administration and U.S. Treasury Secretary Janet Yellen, a prudent diversification of reserves by global central banks was always going to follow.