The US dollar is now positively correlated to global risk, meaning when US equities decline, the dollar declines with them, making US assets suddenly less attractive to foreign investors compared to the previous 15 years when the dollar served as a safe-haven currency that would rise during downturns.
causalpending
Speaker
Louie GavelsonEvidence Quote
“the fact that the US dollar is now positively correlated to global risk is a super important development because it means that US assets suddenly become a lot less attractive to foreigners everywhere [27:36]”
Source
Louis-Vincent Gave: The Dollar’s Breaking? China’s Winning? The End of U.S. Dominance?— WealthionCreated: 8/11/2026, 7:21:20 AM
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