The dollar’s dominance among global currencies is coming to an end, according to separate interviews with three of the world’s most successful investors.
The shift will affect everything from Americans’ standard of living to growth rates in emerging economies, and the main uncertainty in these gurus’ forecasts is the speed at which these changes will take place.
“I think it’s inevitable that the dollar’s role as a world currency will diminish from the dominant currency to one of a few,” said Ray Dalio, president of the hedge fund behemoth Bridgewater Associates, in a rare interview this morning on CNBC's Squawk Box. “We’ve been very lucky borrowing at cheaper rates. It will fade probably pretty quickly.”