Daily Briefing - July 30, 2020

Managing editor, Ed Harrison, hosts Marc Chandler, chief market strategist at Bannockburn Global Forex, to discuss currency markets, the dollar’s reserve status, and the world's loosening grip on the goal of economic efficiency. Chandler and Harrison parse how a seemingly weaker US recovery is expressing itself through currency markets. Chandler also shares his thoughts on why the dollar losing reserve status and the loss of US hegemony are not as compelling by appealing to the dollar’s cyclical trends. Finally, they discuss how nations are reducing their dependency on economic efficiency as the end all, be all, what that looks like, and how the pandemic is catalyzing these trends. In the intro, Nick Correa reviews the latest GDP numbers for the U.S. economy and what implications it has over the next few months.