U.S. dollar

Former Bank of Canada and Bank of England governor Mark Carney told the New York Times that the world's heavy reliance on the U.S. dollar is unsustainable, arguing that the international financial system is at risk. Carney, now Canada's prime minister, has long advocated alternatives including multipolar currency arrangements and has criticized U.S. trade and monetary policy under President Trump for accelerating calls to reduce dollar dependence.

The U.S. dollar is rebounding as Federal Reserve policy decisions continue to reshape global currency markets. The report highlights how the Fed's interest rate stance is influencing dollar strength against other major currencies, with traders and investors adjusting positions accordingly. Analysts are watching whether the recovery marks a durable shift in forex trends or a temporary move driven by shifting rate expectations.